GBP/USD - Short Opportunity Short

British Pound/U.S. DollarFXCM

Description

⋅ Feb 14, 2019 12:18 PM

Top Down approach:

Identified the weekly key levels @ 1.32289 resistance and @1.27508 support
Identified the daily key level @ 1.29326
Idenfitied current up-trend structure, today's 1D&4H shows rejection of the upside weekly zone

Trade entered Wednesday 2:PM @ 1.29250 (Reason: Daily wick showed hard upwards rejection)
0.02 - SL: 1.29646 - Above 4 hour key level TP: 1.28462 PIPS: 40 -- TP HIT!
0.02 - SL: 1.29646 - Above 4 hour key level TP: 1.27526 PIPS: 140

Position 1 hit TP @ 1.28462 = 40 Pips
Position 2 trailed SL in profit and hit @ 1.28835 = 44 Pips

Overall target - weekly key level @ 1.27508

Trend Analysis GBPUSD