GBPUSD Short

Dec 7, 2016

Revision to previous idea yesterday. To enter a short stop order @1.25689 with TP on S1 pivot level and SL near current base pivot level (which is also the end of current candle).

fxstreet.com/news/gbp-usd-testing-12600-on-poor-uk-data-201612070955

W:

D:

Dec 7, 2016

Note

dailyfx.com/forex/market_alert/2016/12/07/British-Pound-on-the-Back-Foot-on-Weaker-Than-Expected-IP-Data.html?DFXfeeds=forex:market_alert

Dec 7, 2016

Trade closed: stop reached

Got whipsawed unfortunately, BUT still pushing through this idea (unless a reversal is confirmed later on). I'll be adjusting the SL and entry to avoid getting whipsawed again and setup the stop order during Asian session or before the UK session instead of the NY session (where historically 95% of my losses happened).