GBPUSD Short
Updated
pretty straight forward - Supply zone topping pattern - in this care a head and shoulders - breaks to the downside and I get in!
This week has been a grind so far. Not many of my trades have gone well and most are just sitting at BE. This is when it's most important to follow your rules and remember that in these cases you want to limit how much you lose. Don't go big when the markets aren't favouring your system. Keep trading but keep your decisions clinical and decisive.
what I mean by this is make sure to have no mercy on your trades - don't let one live simply because of the possibility it'll go your way - if it's not performing how you want it, kill it!
This week has been a grind so far. Not many of my trades have gone well and most are just sitting at BE. This is when it's most important to follow your rules and remember that in these cases you want to limit how much you lose. Don't go big when the markets aren't favouring your system. Keep trading but keep your decisions clinical and decisive.
what I mean by this is make sure to have no mercy on your trades - don't let one live simply because of the possibility it'll go your way - if it's not performing how you want it, kill it!
Note
First TP Hit!Feels good.
The rest of the trade is now running without the risk of loss (don't mistake this for risk free...there is no such thing as risk free)
Let's see what happens.
Trade closed manually
Some news came out for the GBP - somewhat unexpected and price shot up to take out my trailing stop loss for the second half of my position.These things happen. I would've liked to see my second TP get hit but there's never a big chance that the second, larger TP gets hit.
Anyway, 3% gain total on the trade - risking less than 2%.
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