Wednesday, 4 August 2010

GBP/USD position day 2

Break down fractal, Sell @ 1.5914
Put protective Stop Loss @ 1.5965 (last up fractal) or price close above the red line

 
Price close above the red line, should've close the position @1.5842, but i'm away 
So my Stop Loss hit @1.5954
Total loss 1.5954 - 1.5914 = -40 pips

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Another down fractal was hit, enter Sell @1.5891
Protective Stop @ 1.5964 ---> Move to 1.5947 (five previous bar high)

Close position on Bearish Divergent Bar @ 1.5877
Total Profit 1.5891 - 1.5877 = 14 pips



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