I am currently in a GBPUSD short. I have placed my SL in profit and I will look to ride it down to the Psychological Level 1.28800 for nearly a 200 pip move. DXY has shown an inverse head and shoulders pattern signaling a bullish move on the dollar to end the week and to go into early next week. The other major crosses NZDUSD, AUDUSD, XAUUSD all have made its first bearish push down. I am riding GBPUSD down to follow the rest of the majors.
Trade active:
Trade is currenly in profit. RR track candle formation almost stopped me out in profit. I added 2 more entries at 1.30680 when we got the bullish engulphing candle to that area. I am expecting GBPUSD to continue down rather effortlessly after it already has done multiple stop hunt candles. The railroad track formation confirmed my bias of it going down. Will be looking at TP 1 being at 1.3000 TP 2 at 1.29400 TP 3 at 1.28800 and TP 4 at 1.28400. TP 3 and TP 4 are highly likely.
Trade closed: target reached:
TP1 hit at 1.3000. All trades SL should have been put in profit or profit should have been taken at price action at 1.3000 level.
Comment:
+60 Pips