IvanLabrie

Tight risk/reward ratio: Short GBPUSD below Key level resistance

Short
FX:GBPUSD   British Pound / U.S. Dollar
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6
There is a key level above the price, trend is bearish and the indicators agree on the direction the market's moving.
The options expiration line above and a fix rate level serve as overhead resistance, to measure risk from.
Target is 2 ATRs down, closing half the lots at 1 ATR profit and moving stop to break even by then.
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Comments

Nice call
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Trade worked nicely, but covered for now, I'm looking at a continuation setup now, after today's close.
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IvanLabrie IvanLabrie
Pocketed 25 pips today...meh, live to die another day.
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IvanLabrie IvanLabrie
Nice to see the stop level hasn't been hit. We might see some further directional action soon, after today's action.
I'll be watching closely.
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IvanLabrie IvanLabrie
Close to a second shorting opportunity here.
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