Not gonna dwell on the fact that i haven’t updated this for 11 days.
GBP/ZND - Daily Time Frame.
Here is what i am looking at:
Breakout from an infliction point to the downside, followed by a hesitation candle (today’s price action). The breakout candle could have closed lower, but it’s still valid.
I am hoping for a continuation move to the downside.
Stop Loss: 1.94674 (5 pips above today’s high)
Entry: 1.93087 (5 pips bellow today’s low)
The stop loss is 155 pips, which is a bit conservative, i am thinking that i should put it 5 pips above the 50% of today’s hesitation candle…what do you guys think?
Anyway, i will wait for today’s candle to close in order to setup my pending sell stop order. I am playing this one fully conservative.
Any way, if a get a railway tracks on this pair, which is now visible on D and W time frame, then i will enter in this position again.