The GBP chopped sideways most of the session until the US traders began their day and like the EUR it began to climb with USD weakness. After 2 very bullish candles an entry is found with a stop below the Asian session lows. This stop is progressively moved up and the trade is closed at Target 2. As price began to climb, it hit the Asian session high before backing off and closing at yesterday’s high. We removed the risk from the trade by placing our “take profit” just a bit above our entry. Price got a second wind and after stalling at the Asian session high once more, it pushed up to our Target 2.
Good luck with your trading this week!
Back tomorrow if we find a trade.