Education time!
This is a quick-execution on GBPUSD this London session based on a failed breakout and structure shift.
Price initially broke above the previous high but failed to sustain the breakout. The second push failed to print a higher high (HH), signaling potential exhaustion. Once the higher low (HL) that led to the failed HH was broken to the downside, a valid short setup was confirmed.
The trade targets the 161.8% Fibonacci extension of the initial move that failed to hold above the high.
📉 Result: The setup played out cleanly, hitting the target with a +17 pip gain.
This is a quick-execution on GBPUSD this London session based on a failed breakout and structure shift.
Price initially broke above the previous high but failed to sustain the breakout. The second push failed to print a higher high (HH), signaling potential exhaustion. Once the higher low (HL) that led to the failed HH was broken to the downside, a valid short setup was confirmed.
The trade targets the 161.8% Fibonacci extension of the initial move that failed to hold above the high.
📉 Result: The setup played out cleanly, hitting the target with a +17 pip gain.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.