Technician
Short

(J) Trade 17 : Short term Bearish Setup #forex

FX:GBPUSD   British Pound/U.S. Dollar
5928 51 105
Update: Stopped out
Balance = 28 927 - 630 = $28 297
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Trade 17: Pending Short GBPUSD             @1.5530
Trade Status: Pending
S.L @ 1.5635
T1 1.5410
T2 1.5210

Balance = $28 927 Position size = 0.6 lot ~ 2% risk of capital
===========================================================================
Reasoning
  • 50-days SMA and Short term trend line could imply short term downside pressures
  • Pin Bar
  • Short term overbought Stochastic
  • Short term trend is down (lower lows and lower highs)

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Technician
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Today's doji closed on the mid Bollinger Band. I like this trade at current levels: sell @ 156.30/ SL 156.82/ target 154.55
http://gyazo.com/6780e0b7232fcbfbde07e633bda42bda
Reply
Sir, where are you
Reply
It was a good trade but sometimes it happen. Regards
Reply
How Markets breaks your Perfect setups , this trade is very good Example ... Everything was perfect , Market was going down in H4 , MA also ahead , but see how markets trigger pending orders and direct SL ... Anyway , Good luck for Future trades ,,,
Reply
kmk.msp Sniper_Trading
only news from hawkish BOE has change the scenario.
+2 Reply
just wonder if trading before news is a good strategy, any experience?
Reply
el_g storm7_fx
It is nearly impossible to avoid news that will affect trades. Opening a trade right before a major news event is not recommended, but at some point an open trade will run into a news event.
Reply
waylo storm7_fx
I think news are already in the price before they are published at some extent. The price acts differently before major news. It gives some signals and it is possible to predict the movement of the market when news are published. Just like in any other situation though. Unexpected news like this one with gbp dont happen that often. And you always have sl's to cover your back when they occur.
Reply
the market is not with us. it is an excellent trade settup! sometimes it happens i gues ;) no problem it isnt on your analyses!
Reply
GREAT TRADE!
-5 Reply
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