sunnyk
Short

coil break down GBPUSD

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
53 3 3
setup ~ coil on 4 hr             chart in a downwards channel - at edge of h&s breakdown potential
trigger ~ break of spike lows at coil edge on 4 hr             charts

entry ~ 1.40482
stops ~ 109 pips
targets ~ 109, 218, 327 pips
gbp news report 4.30 gmt ... all open orders cancelled heading into news event
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markets are stagnant at present - not much movement here ... exiting at breakeven on my enteries

will reconsider a re-entry with a shortened target around 1.40 round nos
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trade has been triggered - note that i dont hold positions into weekends and will typically not initiate new positions on fridays after 8 am et.
If a trade is triggered thursday evenings ... i will be looking to exit earlier aswell heading into Fridays. For this pair 1.40 round nos could be an area of early exits
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