wuweitrader
Long

GBPUSD - 60 minute Trade

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
79 5 1
Trade taken at lower median line parallel. I decided not to place my stop-loss below the c-pivot, even though my r:r would still be over 3-to-1. Instead, I put it below the horizontal multi-pivot line, and this was due to the size of the stop, since I prefer not to take a 30+ pip stop on an hourly chart. The target is the median line , though there is a down-sloping median line set at work as well, that I will be keeping an eye on (but I do not believe that that is the active set for now).
I'm still bullish about this pair, but it's probably going to new lows...
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Closed position a bit over breakeven; I needed to see more strength against the lower parallel, which had been lacking for the last few bars.
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Decided to move stop to breakeven, price action was questionable.
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There was a nice second entry opportunity. I am waiting to see highs taken out before moving my stop.
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Yeah, a nice fork. Price should find support at its lower MLH.
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