T28 – GBP/USD

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ENTRY

Daily // 4H // 1H // 30m

Analysis

get context for the set-up (what you want to see: clean impulse, choppy correction)

Criteria

TREND on entry timeframe determined by SMA if subjective (✓)

IMPULSE registering ADX>25 (✓) ADX31

COIL structure clear formation relative to prior impulse (✓)

Continuation/Correction/Coil Structure

Flag // Rectangle // Pennant // Wedge // Triangle // Diamond

Fibonacci 50%–61.8% // S&R Level // Trend Line // Moving Average

ABC // ABCDE // Extended Combo

Orders

Entry @ Break of Structure // Area of Value + Candlesticks

Stop Loss @ +1ATR away from last wick // SMA as guide

Take Profit @ Length of Prior Impulse // Next Area of Value

1% capital risked for potentially 2.6R

Entry: 1.2851 | Stop loss: 1.302 (-168 points) | Take Profit: 1.24 (+452 points)

Remarks: Stop order was triggered during high volatility, affecting the risk taken by a little.

MANAGEMENT

If running >1R + swing established, risk halved

download (5)If 20% left to take profit, shift to break even (swing high established)

If strong momentum + space to run + aligned with long term view, extend take profit and use trailing stop

EXIT

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Stop Loss

Manual. Reason:

Trailing Stop

Take Profit

Remarks: Breakeven. The structure that this trade was based on played out very nicely. Entry should have been earlier and take profit should have been when the setup has played out which is the length of the prior impulse. For a trend to happen all the way down is less likely + the holding costs and consolidations needed to be endured. For future reference.

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