UPDATE #2: TRADE: GBPUSD: SELL@1.54810 Expanding Triangle (+287)

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Remember this trade I posted 22 days ago? I'm sure most of you have either for got about it or had already closed it. Well, now 22 days later, I am bagging +287 pips on this baby. Yes, there are trades that sometimes do take awhile to get going but they pay off if you have the PATIENCE for it.

Anyway, here is the chart I posted on this trade 22 days ago:

And here is the chart from the UPDATE #1 on this trade from 13 days ago:

Compare that to the chart above to see the result. Prices have dropped as predicted and is now barreling towards that bottom TL of the descending triangle . Will it get there? I don't know. But I will be pocketing pips off this trade! Did you?

I am taking 75% of my open positions on this trade and putting it in the bank. I'm leaving only 25% open for a possible further ride down. But I am also going to hedge this trade until after the NFP has been released and decide then when or if to reopen it.

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Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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Thanks senior am benifitted from your analysis,keep the good work
your welcome!
I thought you had forgotten to update since Oct the 15th., but I see you hadn`t. On Nov the 2nd.,I was very near to close the short, but fortunately, I hold it. It is actually a sample to be patience.
Thank you sharing your skills.
No, I would never forget to pick up my money! LOL! Glad you stuck with it and made the pips! Good job! My members got a lot more trades like this!
Amanita PRO EverythingForex
Hi, where can I read how can I become a member.?
Hi, you can go to http://www.efxselect.com for more information and to subscribe. Thanks.
Good work Mister! When I saw you post this trade I figured that it had gone up so hard to the sloping trendline, that it was going to pop through and keep going. Nice call.
EverythingForex PRO BuySellBuySell
To be honest, I thought the same when it was popping up after dropping. But that is why you NEVER end a trade prematurely and let the stops take you out. If your stops are in the proper place, then you just do nothing but sit and wait. Got close to my stops but never took them out and then VOILA! Pips in the bank!
+1 Reply
BuySellBuySell EverythingForex
Excellent trade recommendation. +360 pips on this position atm (and counting). Thanks for sharing your analysis with us.
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