GBP/USD 5 Min Breakout Trade
Good morning pipsters, No trades from the trading floor yesterday as the market was not good for me and I had my good friend Andy 'H' come and visit and spent the day chatting over strategies and having fun. As always Mr 'H' fund trader and international coach left me with some great information and this gave me the confidence to take this mornings trade on GBPUSD.
The GBPUSD has been in a tight channel down on the one hour chart and I was looking for the break long. Mr Hs secret candlestick pattern along with the flat tops and higher lows on the 5 minute chart tempted me to place a stop order long one pip above the trading range. with an 8 pip stop my 8 pip target was duly hit and gave me my one percent for the day.