FX:GBPUSD   British Pound/U.S. Dollar
With the pair reaching the recent high that was created a few hours earlier, I was able to enter the market just now at around 1.5230. The stop loss is only 40 pips at 1.5270 while the take profit level is at 1. 5110             giving a possible profit of 120 pips! This is the first time where I will take a 1:3 risk to reward ratio. This is only possible because of the beautiful trade setup. This is a good entry for me since even before the price has reached this area, I was already looking for a short entry. I was even able to mark a bearish trend line in the hourly time frame which could possibly hold the price down and stop it upward move. I am now hoping that this pair will continue its downward trend. Just continuously hoping for the best.

For a more detailed explanation on the longer time frame, check my analysis here:
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out