Pound Sterling Dollar trade progress

Continuing last Pound Sterling short trade, we could see a very nice down movement since the last Price Action signal we spotted at the swing-high of four hour timeframe. Price broke through the low of the BUOB, created an opportunity for short trade, and I actually took it. As usual, I took two trades on the situation.

First trade has already booked and took profit for +91pips, and the rest of short Pound Sterling Dollar trade is still running. Here goes the current trade shot:


As we can see price did not actually went down directly as we wanted to go. It went for around 50pips after the close, and then retraces back up. There were still buyers on the Pound Sterling pair, yet at last sellers won the way.

The entry line on this Pound Sterling Dollar trade is the green-dotted line, and the target profit price is the red-dotted line.
My Pound Sterling trade is now manage using manual trailing stop. Like the previous Pound Sterling Dollar trade, we want to have the low/high of previous candle as a support and the spot to set the stop.

Managing the trades we were on this situation were also a test for traders on how to deal on different kinds of certain conditions. Not every trades always goes a hundred percent like we wanted to go. Experiences, money-management, psychological behaviour are into play in this forex market. We want to trade inoccasionally which the objective is to reduce the forex signal noises, though we also wanted to be taking high probability forex trades with a high pip return.

Regards,
Mairza