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GOOD EVENING STEEMIT!
I'm actually taking a couple of days off, but with my GBP/USD short trade still in play, one of my alerts went off and I had to add into my original position again.
If you've been following the setup on my Steemit blog, you'd have read the following excerpt, but I wanted to bring it back up again:
Just add another step!
We're already in our core position, so now we wait for price to retrace and potentially retest previous short term support as resistance.
If that happens then we start to really see our risk:reward rack up to some serious levels and if it doesn't then we get stopped out for a profit on our original entry.
Well this following chart shows that we just keep doing what we've been doing and building on that original core short by adding into our position.
Check out the hourly chart below:
Just looking for that same setup again and again. After higher time frame resistance held (click the link to the first blog on this setup below), then we look to sell any retests of previous short term support as resistance.
And that's exactly what we have here. Sell it :)
Peace.
@forexbrokr CHART ART BlogsIf chart setups that I've spoken about before are related out then I'll leave them here.
GBP/USD SHORT TRADE - JUST ADD ANOTHER STEP!
GBP/USD SHORT TRADE UPDATE (NO CAT)
GBP/USD POSSIBLE SHORT TRADE + BONUS CAT
Please leave a comment with your ideas or just share a chart.
Blogging about markets is all about sharing ideas and making us see all possible angles. I look forward to having you follow along and reading what you throw at me.
Twitter: @forexbrokr
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Website: www.forexbrokr.com
