fxwhitebelt
Short

Monday morning short trade..... maybe

FX:GBPUSD   British Pound/U.S. Dollar
58 2 0
I don't usually trade Mondays as I find it too tricky but here is a set up I will be looking at.
The 9 and 18 EMA all confirm short positions only.
It is ISM at 15:00 GMT             so if the trade is too close I won't take it, it would be much better (for me) to see it run into my entry from a distance before I short. What distance is I am not sure, maybe 40 pips, don't know.
Anyway:
There is an ICT hourly order block that is overlaid by the 70.8% OTE             retracement. This coincides with 17/11 weekly open price and the swing low of 26/11 which occurred after London open and prior to a run up.... an area of interest.
With a 25 pip stop, an entry around 1.5683 (at LO or NYO or ISM run) will see my stop above 1.5700, above the ICT order block, above the ADR             and above the 1st std CBDR. If that gets hit I was definitely wrong :)
I would be targeting 1.5600 and moving to breakeven if 30 pips profit hit.
I identified a similar setup around the 1.5680 using the ICT method (which I am fairly new to). See how it goes. Got a small position set. Good luck!
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Thanks, looks okay but Mondays still make me a little nervous. If this is combined with a USDX fall to the 88.00 number I would be happier but I guess we will see.
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