osasumwen's GBPUSD Trade $0.00
Trade Details
Performance Metrics
| Entry CPU | Exit CPU | Fees | Max Amount | Max Cost | P&L % | P&L $ |
|---|---|---|---|---|---|---|
| 1.26 | 1.26 | $0.00 | 2.0 | $2.53 | 0.00% | $0.00 |
Transactions
2 entries| Date | Side | Amount | Price | Commission | Reg Fee |
|---|---|---|---|---|---|
| Feb 28, 2024 12:00:00 | Entry | 2.0 | $1.26 | $0.00 | $0.00 |
| Feb 28, 2024 22:54:56 | Exit | 2.0 | $1.26 | $0.00 | $0.00 |
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The use of top-down analysis was used to understand the flow of the market. The daily timeframe was used to find the overall trend of the market and the market had been retesting a support zone for the past four days. Dropped down to the (1hr) time frame where saw the market trending up so I drew a trendline and saw that the price had been respecting it but just broke the trendline towards the downside. Dropped down to the (15min) timeframe where I saw that the Asian session was quite expansive giving me the understanding that the London session might not have too many opportunities. Using DXY as extra confluence that GBP/USD would be going down, DXY was making moves to the Upside.
On the (15-minute) timeframe the was a Demand zone and directly below it there was a buy-side imbalance giving me reasons why the market would want to come and fill it before making its way towards the downside. I entered the market, of the filling of the Imbalance. Not realizing that there is an imbalance that will need to be filled. Trade went in my favour but I had my eyes off the charts and the price reversed before hitting my TP and closed the trade for a break-even trade.