To quote Morpheus from the matrix, "This is your last chance. After this, there is no turning back. You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes."So here are your choices, the trade is profitable and you can walk away with 170 pips or you can tighten your stop and risk 100 pips of your trade to see how deep the rabbit hole goes.
I see a short term resistance level right where we are at and the next suppor level is our low we were at earlier today with a potential move closer to 2.5300. So even treating the trade as a new trade we are close to a 3 to 1 risk/reward ratio. A potentially good trade set up... or is it.
If you forget why we got in the trade and what were were looking at prior you can see the Gbp/Nzd short, original blog posting here.
2 comments:
Notice I put the GBP/NZD chart into his glasses relection?
After looking at the set up. Please answer the poll at the right about what you would do with this set up.
Post a Comment