Gbp/chf short

[salimvp]

SHORT GBP/CHF,

CHART TF: Daily.





LONG or SHORT: SHORT

ENTRY: Between 1.5015-5030.

STOP: 1.5100

TP: 1.4900 and 1.4850

R:R - Possible 2:1 (Need Patience)

Trade Based on Price Action. The pair yesterday print as a Pin Bar at 1.5025 are which is a Resistance and of course 1.5025 is a Fib 61.8 extension (I don't know how to say the extension) The Fibo, the Pin bar and resistance showing at green line is confirming the pair want to go south. Moreover the daily Chart showing a HL, LH, LH pattern clearly.

SO here going for a short..


Good Luck Guys.

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[salimvp]

Trade Update: Triggered for Short at 1.5020.


Now Fingers Crossed....


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[salimvp]

Now the pair moved +70 pips to my direction which is 1.4950, Now STOP Moved to BE.


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[mastergunner99]

Good call. I went long on it. Down 64 pips at the moment.

[salimvp]

Good call. I went long on it. Down 64 pips at the moment.

OMG.!!! Cut your loss and Run. Anyway what was your plan?


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[mastergunner99]

OMG.!!! Cut your loss and Run. Anyway what was your plan?


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I'm not panicking at all. It's just one of five currently losing trades in a bucket of 20 open trades I have. At 4pm I'll have a look and see what I plan to do with it.

[salimvp]

Okey guys... trade close with a +123.4 pips profit at 1.4897. It gave me 1.75:1 Reward to risk.




Looking for next setup.


Happy pipping guys.

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[NewbTrader]

i took my profit too early only 60 pips, i was waiting to hit my retrace levels to short, but it never hit...
i missed out....

[salimvp]

i took my profit too early only 60 pips, i was waiting to hit my retrace levels to short, but it never hit...
i missed out....

Anyway you banked 60 pips. That's was good trade. Don't think about the further movement of the pair. Focus on the next setup.


The reason I close the trade is seeing a support at 1.4900 area and It might hold some times and tomorrow friday. The pair may move at next support between 1.4830-4850.


Let's see how it going.


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[salimvp]

The reason I close the trade is seeing a support at 1.4900 area and It might hold some times and tomorrow friday. The pair may move at next support between 1.4830-4850.

Well, It hit the exact second TP and the above mentioned Support level.

Happy weekend.