GBP/USD – Wednesday 1/8

 

Result +1 pip

Trade Selection:

LONG

  • a triangle formation
  • an “up-trending” market, however we must note that one time frame higher (30 min) the visual flow was down, and the beginning of the chart shows a potential resistance not far above where I got in
  • there was a nice piercing of the bollinger band(S) and since there was a triangle breaking UP I thought it was worth a shot

 

Trade Management:

Note this wasn’t the right time to be trading this pair as It was night time, EST.

 

  • I wasn’t going to be available to actively manage this trade. I wanted to get out at breakeven and was able to do that. However,…
  • It turned out my stop loss would not have been hit and my limit sell (take profit) would have. It was good for around 25 pips.

 

Image

Image

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s