03.01.2014 GBPUSD Trade on 5 minute chart

3
Jan

Good Afternoon Pipsters. Todays trade from the Forex Trading floor was taken on GBPUSD. After yesterdays big fall on the pound the market gave us a trading range Bear Flag on
the one hour chart which struggled to break the hourly resistance trend line to the long side. The spiking channel on the 5 min chart failed to give me a climatic ending and
kept me out of the market for the down side break. the three small bull bars on the 20 EMA failed to convince me that the Bulls were ready to buy so I placed a sell stop
order under the tight trading range and was duly filled into the short position. 7 pips later my one percent was delivered to my trading account. Thank you cable! Happy Days.

 

 

 

 

 

 

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