After recent side ways movement on the GBP , volume and buying pressure looks to be dying out altho we are still in a sideways market there are multiple signs pointing to a short pullback. But bearing in mind going against the trend is risky and lower probability.
Reasons for this Trade Clear break of trend line and retest and held as RES After 148.00 level has not been broken on 3 attempts and has held well as RES Tweezer top formation on Daily chart Strong bearish daily close Strong signs of bears on lower time frames breaking all structure
Altho the entry is bit late and a bit more conservative I am confident price will reach 140.00 key level at the very least I am sensing a sell of on GBP pairs due to political mess and of course price action please feel free to wait for a better entry as I'm trading of daily charts and don't mind having bigger Stop losses.
risk management : 1-2% of account size MAX
My entry 141.00 First target 140.00 Second target 138.75
Dagangan ditutup: sasaran tercapai
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First Target achieved for 100 pips profit may close part of my position and let the rest ride Anyways enjoy the profits and have a great weekend :)