1. Trade Setup
Pair: GBP/USD
Timeframe: 15-minute
Strategy: Buy Limit Order
Indicator Used: EMA 21
2. Market Structure & Analysis
The price is in an uptrend, forming higher highs and higher lows. You’ve identified a key support zone (previous resistance now turned support). Price has broken above resistance, and you’re expecting a pullback to retest the zone before continuation.
3. Entry & Execution
Buy Limit Order: Placed at the gray zone, which aligns with a support level.
Confirmation: Price must reject this level before continuing upward.
4. Stop Loss & Take Profit
Stop Loss: Placed below the support level to minimize risk if the trade fails. Take Profit: Positioned at the next resistance level (upper green target zone), aiming for a high reward-to-risk ratio.
5. Trade Psychology & Logic
You’re executing a pullback entry instead of chasing price at highs. Institutional traders often push price down to collect liquidity before the next move. EMA 21 is used for tren confirmation.