My GBP/USD Trade (15-04-2008)

*Attached chart (Before). Click on it for the enlarged version.

Hello everyone,

My trade today on the GBP/USD.

I shorted this pair at 2:33pm (Singapore Time) | 6:33 am (GMT) at the price line of 1.9700.

What I saw was that, own analysis and price action and how market has reacted on Monday. To support my analysis, price has broken the [Ash Weekly Pivot]. Fast [Ash C Wave] already down, Slow [Ash C Wave] Kissing, MA already down and [Ash Cross Over] has crossed down. To ice the thing, [Ash Down Up] thick red bar. Double-checked on the 4hourly, the [Ash Cross Over] is down as well.

Waited for price to go back to 1.9700 and I shorted it.

My Stop Loss at 1.9740 (40pips) and Target Profit at 1.9535 (165pips). Risk : Reward = 40 : 165 = 1 : 4.125

Currently, market has moved in my favour and I am in around 70pips in the money. Shifted my Stop Loss to Protective Stop at 1.9680 (20pips in the money).

Will update as this trade goes by :)

Peace and trade safely everyone...