GBPUSD long position - 1%

30 thg 11, 2021

Price broke and closed above a range on the 15 minute time frame, which to me indicated bullish momentum even though the higher time frame bias was bearish, I believed that price action was forming a base after a rally and then a continuation to the upside (another rally). Unfortunately i was wrong and in hindsight, looking at the RSI as it was showing over bought. I will not take these set ups again and wait for price to pull back into a demand zone with added confluence such as an indicator.