DARE TO CATCH THE FALLING KNIFE?

Oct 24, 2019

GBPUSD

Setup: Price is in very strong uptrend, but I can see a HNS forming maybe price is running out of steam and going to retrace to "refill" some gas. Haha.
Overall trend is still strong bullish. This is a counter trend setup.

Confluence:
BRN
Price Action Structure
Supply zone
Structure Breakout

Entry Confirmation:
Wait for CRS then sell

Entry:
Sell limit@ 1.2960, SL @ 1.3030 (70 pips), TP @ 1.2700 (260 pips)
I use sell limit because I don't have entry confirmation yet, if strong bullish move triggers my entry, then I might cut loss.

Let me know what you think.

Oct 24, 2019

Trade active

Entry filled @ 1.2930

Let see how it goes