Entering short looking for decent swing trade lower
Comments
AA15
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What Position did you short? Looks as if GA going up.
dionvuletich
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Its only the asian session, so rallies here are almost insignificant on daily timeframe charts..
The real traders are in the London and US sessions, and by far the largest volume
Looking to sell the break through the low of yesterday pin bar, stop 1pip + spread above the high, risk is large at >200pips but potential is still >3:1 so position size is small to keep $RISK at acceptable level
If your judging action on a daily chart setup by what it's doing intraday - your doing it wrong...
dionvuletich
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There are 3x potential targets shown, 1st is 2.021, 2nd is 1.976, 3rd 1.925,
At this stage I am thinking of playing for the 1.976 level which is still approx. >3.5:1 Reward to risk
And start looking for 4hr setups to sell again on rallies, take out first profit take/ remove risk quickly... and possibly run second portion to the levels noted above
Also going to scour other gbp pairs to see if any other sell signals are present and also aud pairs to look for potential longs