ForexNative
Short

GBP/USD SETTING UP FOR A NICE BAT PATTERN. RISK/REWARD EXPLAINED

FX:GBPUSD   British Pound / U.S. Dollar
It's looking like the British Pound is going to press up into our entry point for a nice opportunity to short the market. The risk/reward profile I have established in my trading plan is not to take trades that offer less than 70% Risk/Reward from the 1st take profit point and the stop loss. With this rule in mind, I look for opportunities to place stops around recent structure pivot points . This is a strategy I have back tested and used for some time, but feel free to use your own trading plan rules for stop placements on this trade. Good Luck!
-David

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