GBPUSD - 15MIN CHART Pivot Point: Short, Risk Ratio: 1:3
I HAVE ALREADY ENTERED THE TRADE:
15min chart GBPUSD
Broke below the pivot point . Using price action as confirmation: Got a LOW CLOSE doji and a shooting star just below the pivot point, this indicates that our pivot point is resisting us from closing ABOVE the pivot point. Using the high of the shooting star as stop loss (9,3 pips) and S1 as TP (27 pips). The low close doji is just another confirmation signal, however it is the candlestick close below the shooting star that triggers the order execution! This gives us a 1:3 risk-to reward ratio, which is very good.
15min chart GBPUSD
Broke below the pivot point . Using price action as confirmation: Got a LOW CLOSE doji and a shooting star just below the pivot point, this indicates that our pivot point is resisting us from closing ABOVE the pivot point. Using the high of the shooting star as stop loss (9,3 pips) and S1 as TP (27 pips). The low close doji is just another confirmation signal, however it is the candlestick close below the shooting star that triggers the order execution! This gives us a 1:3 risk-to reward ratio, which is very good.
Trade closed: stop reached