Tuesday, September 26, 2017

The British Pound Lash back - Daily Chart of GBP/USD

(1) The zone shaded in red is the point on the chart where I was being stopped out and selling short the GBP/USD

(2) The horizontal arrows denote sell short entry filled orders with the two locations at 1.360 and 1.34789

(3) I have averaged with enough size to over-take the levels where I was stopped out in the middle of the British pound rally, or dollar sell off

The horizontal lines above and below price shaded in grey and green are stop losses and exits.  I plan on exiting this trade near 1.32, but with a pyramiding strategy I could see myself add the same amount of size with 40, to 60 points in length.  Meaning if the pair continues trading down I will add to it with the same amount per trade.  This is scaling in, at its best!


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