Oh my God! Second straight trade failed! I am now down to -80 pips! My short term trades are really no good at all! But I still believe that my GBPUSD top down analysis is correct. For now, I still have a very good entry in the 1 hour time frame to go short.
1HR Time Frame
With a bearish cypher pattern just completed, I will reenter the market with a new short position at 1.53503. With this trade, I will set my stop loss at 1.53903 and my take profit will be near the support level at 1.52603.
1HR Time Frame
With this trade I can take all my losses to break even. I just wish that the market will not spike up and just go down immediately or else I will soon be down to -120 pips!
Good luck in trading guys!
GBPUSD Short
Entry: 1.53503
SL: 1.53903
TP: 1.52603
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