GBPCHF
Took this trade yesterday once I saw old resistance holding as support. Simple but effective.
Have to admit price was in and out of profit since I took the trade so was unsure how could go but had more confidence in trade once yesterdays candle closed a bullish pin.
Have scaled out and in a risk free trade. I actually have a longer term view on this trade but will need to see how price plays out over the coming days and see if Im still in the trade.
Very nice trade mate...well timed, well managed as well. I remember you took a short trade from the same pair a few weeks ago...now yu have a long trade...shows why its important for a trader to be flexible and not to be biased. Well done.
ReplyDeleteBut now I think if we drop down to 5250s....and stay below that zone., we might move down and we have room to move all the way to 5070s
Thanks Joe. Im hanging in there but only just. My stops at BE so risk free but price got within a couple pips of my stop, had I been short I think I would have been stopped just from spread. Gonna let it ride or get stopped.
ReplyDeleteWe have broken 5250, now a pull back to 5240s-5250s is possible before we see another wave down...still my last target will be around the 5070s. I will be looking for a short at a restest of the TL on the hourly...thats around the 5240s-5250s zone.
ReplyDelete5240 looks like its holding Joe. Im sitting aside now on this pair but may be interested around the 5100's. No new positions for me so far this week as not too much seems to be catching my eye at the moment. That being said would really like some kind of a pullback on the EUR and GBP crosses with the commodity currencies. That would get me interested ;)
ReplyDeleteI am short, taken partial profits on 1 position, the remaining 2 positions moved to BE...free trade. Price will struggle at 5190s zone, but if we break that zone, we will be in a free fall. I will post the chart on my blog.
ReplyDelete