FX:GBPUSD   British Pound / U.S. Dollar
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I was short the GBPUSD             on the 1.618 trade at previous structure with overbought RSI , but recently this pair broke and closed above a previous structure level and that is a hint to me that we could see some trend continuation to the up side so i used some trade management and closed my position at a small gain.
love your videos. They are very clear and straight to the point. Thank you.

Hi steven, for this 1.618 setup, how do you set you stop loss?
StevenH jayhong
Hi jayhong! I normally do not take this kind of trade unless it comes in close to a previous resistance level as the one above did and i set stops above that level. When you back test it though you could try placing stops in different ways, this is just the way that i do it. Hope this helps and good luck!
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