aligning good trade setups with news, but getting into LTF to make this trade.
WRMB is a trustable setup but with its basis anchored on h4 tf, it may take some time to work out.
however in this case study, WR2B has been aligned with triggerpoint 5 criteria. The fact that there were 2 news: EUR followed by GBP news therefore fit everything nicely. to trade this chart for the day.
Hence traded this short on a big pos with confidence,
1) as i was confident that news would drive price fast and i would be spared the agony of having to wait for a trade to tp.
2) I was also confident as there were 2 trusted setup that i new sooner or later price would move my direction. based on the setup I was also prepared to wait, should price not move my direction.
3)I adopted a sell stop strategy, the final safeguard in the event that news did not drive prices my way, I would not be triggered into this trade. I could then choose to ignore this trade, or choose to short at a higher place.
aweek31 : waiting this bear flag, channel to materialize and continue to short on GBPCHF.