GBPUSD Short the pull back

GBPUSD Short the pull back

1.3169-1.3190 is a broken structure
and we can also see an Inside Bar fromed there.

Wait for price come to this zone and take a short

and aim 1.3050 / 1.2850
SL above 1.3280

Trade active:

Sold 1 position at 1.3170, sold another position at 1.3200

Comment:

Getting closed to the SL, but not yet hit.
Still in the trade, and stick with the plan.

Comment:

Dont' forget the 2% rule. always calculate the correct lot size.
In this case, from 1.3190 to 1.3280 , risk distance is 90 pips.
if your account is 10k usd, 2% is 200 USD.
therefore the correct lot size is: 200 / ( 90 * 10) = 0.22 lot.

by doing this, you will set a pre-determined risk which you are comfortable with.

Trade closed: stop reached:

1.3280 hit, exit trade.
-90 pips

Comment:

Don't open any trade now. just observe first.

Comment:

see my new trading plan, now we have some patterns

Comment:

Comment:

All loss covered :)

Comment:

Comment:

instead of losing 2% for the first trade, now we have 4% gain for the 2nd one.
so together still have a net profit of 2% for the two trades