Re: Tue Jan 18 Quote:
Originally Posted by Leia cable long 1.59 00 (risk 30 target 50+)
usd jpy short 82.65 (risk 15 reward 30)
eur gbp short .83 65 (risk 20 reward 50)
gbp jpy long 131.45 (risk 20 reward 40) |
There was very little in the way of pull backs this morning, a 'break out' trade was a better option for both cable and gbp jpy, my desired entry level was way off
However, I have taken a short position on eur gbp.
My 1H chart shows the trend as short and a 61.8% pull back of the previous swing high, to a 100% pull back (potential double top on that time frame) provides a good level for my stop
The 5m chart shows that my potential short entry area was taken out (green line), but price seemed to stall and so I took a short entry on the retrace. The position is currently fluctuating around break even. There is GBP news at 9:30, so I aim to be out (or at least be at breakeven) on this trade position by then |