GBP/USD "Cable" Accumulation

15 มี.ค. 2021

I can see a large 4HR Accumulation on "Cable" This is the Wychoff Accumulation 1 schematic. I have setup 2 different trades one targeting the initial break of the descending trendline and the other is targeting the previous weekly high.

17 มี.ค. 2021

การซื้อขายยังคงดำเนินอยู่

Shame my initial LPS was placed a bit high so my first entry hit SL. However, I re-evaluated the setup and saw the opportunity to enter another long with a better Risk : Reward ratio. This trade is almost now at the 1.4000 TP and I have just taken 60% of the profit off it which has covered the initial loss from the first early entry. Plus I have 40% running for the TP which is all extra profit.

Overall, this trade played out well I learnt to manage and not rush my entries as much and try to enter below the 50% level within the range so my entry price is on "Sale" as such.