JoeFlahive
Long

Simple Inside Bar Trade

FX:GBPUSD   British Pound / U.S. Dollar
45 0 2
I thought I'd post this very simple inside bar trade as like many traders here I'm looking for a bottom in this pair (although I appreciate this trade isn't exactly significant to the overall picture). Nice reversal today from the lows and it held the green bar low from the 18th. Sometimes it's good to keep things simple, and you can't get anymore simple than this. Keep your share size EXTREMELY light. The FX market is very volatile at the moment, that said, I think the Asian market could drive this up tonight/tomorrow morning (whichever relates to you). Nice tight stop - any daily chart close below 1.21745. I suggest trailing the stop and taking half off at a pierce of 1.23. Remember to go light. PS If you prefer to wait for a time count then wait until tomorrow, otherwise good luck :D
Trade active: We actually traded as high as 1.22259 today. Will be nice to see some follow through during the US session.
Trade closed: stop reached: We got as high as 1.22719 :/ Stopped out but at least its nice and tight :D
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