I have to be honest, today was a scratch day for me in Equities, I had 3 attempts but nothing I felt confident about to risk my capital on today, so I kept my stops tight. I had two other solid trading setups that I missed as well, which happens, there is nothing you can do about this, we are human, we need toast, coffee, restroom breaks etc. and a good trade will pass you by. Anyway, I did have a surprise waiting for me this morning when I awoke. I throw my net out yesterday afternoon on a potential short in GBPUSD @ 1.5601 for my first lot. I felt that GBPUSD would exceed the prior high on the 1 hour chart so I decided to move my first short limit order above the prior high @ 1.5591. It seemed like such a long shot since price was so far away trading @ 1.5549 area when I put the trade on. This morning I was awarded a nice 40 pip profit on my first lot that triggered short in GBPUSD. My caution cost me from having two lots go to profit but that happens sometimes. Here is the setup chart for my Forex short play in GBPUSD… Click on chart to enlarge…
GBPUSD H1 setup
Here is this mornings wonderful chart…
gbpusd 09032013 profit taken
This afternoon, TraderHank put on the same trade again! 🙂
On again 4 hour chart GBPUSD
