Double Pitchfork Short Setup - GBPUSD

A nice setup took shape on GBPUSD. With a double top as confirmation this trade is opened. Initial profit target is the median line of the blue pitchfork and a SL that provides a 1:1 RR. Here's hoping this trade will make up for the couple of setback from the end of last week.

Trade ist aktiv:

Entry Price: 1.44055
Initial SL: 1.44252
1st Profit Target: 1.43858

Kommentar:

After a couple hours, the trade is in profit and it appears that price is respecting the major pitchfork (red). If this level is maintained, price has a good chance of reach 1.435 levels following this test and bounce from the upper pitchfork line.

Kommentar:

Price made another run up to the high but failed to make a higher high. I believe the trade is still valid but during the mid afternoon lull, prices have wandered about some.

Trade geschlossen: Stop wurde erreicht