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...
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.
Decided to move stop to breakeven, price action was questionable.
There was a nice second entry opportunity. I am waiting to see highs taken out before moving my stop.
Yeah, a nice fork. Price should find support at its lower MLH.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out