Results 1 to 2 of 2
  1. #1
    metin's Avatar
    metin is offline Newbie
    Join Date
    Dec 2011
    Posts
    67

    Default GBPUSD Possible Pullback

    Hey everyone,

    It was a nice day for me with EURJPY and AUDJPY. Just after I closed my positions I noticed that all pairs did well today. Now I was checking the GBPUSD and I saw a possible retracement from 1.5798 so I entered short.

    Actually I don't like the idea of opening a new trade in the evenings after completing a few good trades, because whenever I do so I end up losing. But the reasons I entered this trade are:

    1. Bearish overall trend

    2. RSI and Stoch show a hidden divergence, i.e. continuation

    3. A tweezer at the top

    4. Ichimoku H4 still bearish, H1 shows a bullish reversal though.

    5. Price way up from the Kijun on H1. Expectable bounce back.

    6. Small risk. Stop-loss 19 pips which is 7 pips above the top.

    7. Target will be Fib levels consecutively with a trailing SL.

    I'll post the result later. It's not an important trade for me though, as my SL is tight.

    I'd like to know what other traders think of this position. I bet there are things I miss as always.


  2. #2
    metin's Avatar
    metin is offline Newbie
    Join Date
    Dec 2011
    Posts
    67
    Stopped out. Never mind.

Similar Threads

  1. Is this possible !
    By martin in forum Free Forex Trading Systems
    Replies: 19
    Last Post: 01-03-2010, 07:04 PM
  2. Replies: 0
    Last Post: 08-18-2008, 06:10 PM
  3. Replies: 0
    Last Post: 02-20-2008, 06:40 PM
  4. Pro Commentary Lite 8th February 2007 ... GBPUSD
    By GFTforex in forum The Analyst Arena
    Replies: 0
    Last Post: 02-08-2007, 12:00 AM
  5. Possible Continuation of Long Term Downtrend
    By DailyFx in forum The Analyst Arena
    Replies: 0
    Last Post: 02-02-2007, 11:30 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
"Instead of thinking about where you are, think about where you want to be. It takes twenty years of hard work to become an overnight success."
Diana Rankin