Hello friends, of course I’d like to make you earn a lot of pips, but I’m here to donate 10$ to greenpeace 
Chart: daily
long or short: short
entry point: market (1.6150 - 1.6220)
stop loss: 1.6300
take profit: 1st: 1.5820; 2nd: 1.5650; 3rd: 1.5340
Reward-to-risk ratio: it depends on target
Risk percentage: 2%, because it is a long term trade (for short term trades I usually use 1% or 0.5%)
Indicators used: stochastic and a simple downtrend line
Trade rationale: the pair may fall after testing the downtrend line and stochastic is in overbought area. I would like to add that Britain is in recession.
Trade adjustments: I won’t open the position if U.S. GDP is negative.
Good luck guys and have a nice week-end
Thanks for your trade idea fedegmail!..i didn’t take a big enough look at the daily chart to notice the downtrend line…so that’s interesting to me…and I do see a wedge forming so I do feel the pair will fall…but when?..im afraid to pull the trigger on this pair as a part of me thinks it may go higher past your SL…i’m starting to think that the previous resistance of 1.6165 will become a new support…so i’m considering putting an order at some point this week around 1.6250…but only after a few more confirming signals that it will retrace…or if i’m feeling gutsy i’ll enter a short at 1.6300…good luck!
The market opened at 1.6260 so my stop loss will be near 1.6400 
good luck you too 
Looks like you’re reader’s choice!!..congrats!!
Love the trade plan, I’m in too. Similarly raised my SL up to 16350 and hope it plummets from here on in Congrats on trade of the week Fede!
looking good so far…i actually ended up putting in an order at 1.6300 and it triggered…and now about 40 pips in profit!!..nice work fedegmail!
How long do you think GBPUSD will take to hit your target profit? 1 week? 2 weeks?
I think 2 weeks - 1 month to hit my first take profit
What number levels do you use for the stochastic? 5,3,3, or something else?
Is this trade still valid and still waiting for the market to hit the 3 projected profits?
Yes, there is a chance. If you want to sell I suggest you to set a stop loss near 1.63. Good luck
When do you think the market will hit the 3 projected profits?
I think 2 or 3 months, I’ll be there
HI Fedegmail,
Great trade idea I am still in it… how do you think this trade is going, are you sticking with you original plan regarding the Tp levels?
Keep up the good work
