Forex Live Trade : GBPUSD - 31 Aug 2015

Today, i want to share a trade that I took.

Its on the GBPUSD pair and I took a SHORT trade.

Here is the Trade:

Reason For Entry:

The price made a W formation in the previous day and I am expecting a continuation of the uptrend after the Asian session.

Right after the Asian session, the price went down a bit in an aggressive way but it then swiftly bounce or retrace to form an engulfing pattern.

Entry was right after the reversal candle.

The Result:

Unfortunately, the uptrend wasn't stronf enough.

Market went sideways for some time before it eventually took out my trade.

So, the result for this trade was a LOSS of -27 pips



Yours sincerely,




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