GBP/USD Trade Idea by Dane Williams

From when we first start trading we are told “follow the trend”, “the trend is your friend” blah blah blah. We’ve all had it told to us and read it in countless articles. It sounds simple enough in theory, but trading isn’t about theory and when a chart looks overstretched, it’s human nature to be looking to fade it.

I primarily think fade first when I’m looking for a trading setup but for the most part, I try to keep myself fading short term moves that lack momentum, but going with the overall trend on the higher timeframes and this GBP/USD setup below is a prime example of this.

guday

gufour

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GBPUSD Short by danewilliamsau on TradingView.com


Trade idea: GBP/USD short. Pushing up into short term resistance. Look to fade any lack of momentum.

 

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