The pound dollar trade analysis.
At the request of my followers, I am posting a brief analysis of my decision on the recent pound dollar trade May 13.
1.21809 is opening price near the key support level at 1.2173, it can be visible on 15 minutes. The currency pair started a consolidation, and despite the downtrend, I traded within the horizontal movement, in the short term.
The global trend is indeed downward, but with a clear divergence on the four hours MACD, so even in the longer term, it was possible to hold the trade until May 18th.
The close was at 1.22114 on a take profit level, which was set based on the EMA 100 level on the fifteen minute chart.
Watch trades here: https://www.myfxbook.com/members/MarcellusLux/lux/8591067