How to Stop Making Bad Fade Trades

One talented developing trader we work with is struggling with making poor fade trades and controlling his risk. I know many in the trading community struggle with poor fade trades and losing too much in lesser trades. The exchange between this trader, his solutions, and my response might be able to help. After a huge rip and then bounce back day he wrote: Needed a good bounce back / confidence booster day today. I find that these 1500-2k+ days are coming easier and easier which gives me confidence..I talked to Steve and he gave me some really good advice on Friday that i think will help me plug this fading leak. He said Read more [...]

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Learn Forex price action techniques for sticking with your trades

When learning Forex, people don’t tend to learn the nitty-gritty details of trading.

Things like what happened with last weeks EUR/CAD long.

What happens when you enter a trade, and it doesn’t go in your direction? Instead, price starts ranging, getting excruciatingly close to your target, and then falling away…

…If you have been trading for a while, you know the kind of trade I am talking about. If not, take a look below.

Here are two trades we took last week in the advanced course forum.

First, is an AUD/USD short.

Great AUD/USD short trade that ended up pushing down 100 pips.

This trade hits it’s first target without much hassle. There were a point at which price slowed down a little. However, the lower lows and lower highs were consistent, and sellers had control the whole way down to the first target at 0.9400.

This trade did not manage to hit the second target by the end of the week, so some people closed it out. Others kept this trade open and if you look at you chart today, you will see this trade is now close to 100 pips in profit.

So, while it was not the perfect trade, it was profitable. The thing to note is how well sellers controlled price.

Now, let’s take a look at the next trade…

… This is the EUR/CAD long trade we took last week.

EUR/CAD trade took a long time to hit target and many traders bailed before it moved.

This one is not nearly as good looking. After my entry, things got messy. Price ranged for days, my first target was almost hit twice, before finally being hot on the third attempt. It looked like buyers simply weren’t controlling price.

A lot of people jumped out of this trade early. Some of us stuck with this trade, which as a good move, because the trade paid off in the end.

And that is what I am going to show you in the video below. I will play back this trade and explain exactly why I stayed in.

Like I said at the start of this post. When you start learning Forex, you do not learn this kind of stuff. So hopefully this video will help you understand when to stick with your trade.

Check out My Price Action Techniques for Managing Trades

My free Forex Price Action strategy. Bookmark this link because I will be updating it with lots of new content very soon.

If you enjoyed this video, or have any questions, please leave a comment below. I reply to every comment.

NickB’s Forex Blog

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Learn Price Action Techniques for Avoiding Bad Trades

Recently I have been showing you how to use price action to enter trades. However, there is a whole other side to price action that is rarely discussed…

… Using price action techniques for avoiding bad trades.

I am a very conservative trader. While my strategy usually shows ten or more trades per week, I tend to only trade two or three of them. This is because I usually filter our all but the best trade set-ups. Not everybody who trades my strategy does the same though. There are some traders who take every trade they can catch. There are some who filter out some trade, but aren’t as picky as me.

In the end, there is no right or wrong way to approach the strategy. As long as you follow your money management rules and your trading plan, you should be okay.

Using Price Action to Filter Out Bad Trades

If like me you want to filter out as many bad trades as possible, price action is the best way to do so. In the video below I show you a recent bad trade, and how using price action would have saved you from this trade.

Avoiding Bad Trades

In the end, you will never be able to avoid all bad trades. However, by using a few simple price action techniques, you can avoid a lot of them. In this trade, a simple combination of minor resistance and a bad risk/reward ratio kept me out.

One important thing to note is that you shouldn’t be overly cautious. If there is minor support or resistance in the way but you can still set a good target, the trade may be worth taking. You need to learn to find a balance between smart caution and skipping every trade.

If you enjoyed this video, or have any questions, please leave a comment below. I try to reply to every comment.

If you want to learn more about how I trade Forex, check out my free Forex Price Action strategy.

NickB’s Forex Blog

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Best Online Stock Brokers Cheap Trades and Mutual Funds

Best Online Stock Brokers Cheap Trades and Mutual Funds

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Best Online Stock Brokers Cheap Trades and Mutual Funds

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Best Online Stock Brokers Cheap Trades and Mutual Funds

Best Online Stock Brokers Cheap Trades and Mutual Funds

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One last post

One last postMarch 4, 2014I meant to make this post before the previous one announcing the decision to stop the blog.After a lot of reflection and analysis of February’s poor trades, if I had to point to the root cause of it, I’d say it was the refusal to take my losses on the yen pairs in late Jan / early Feb.The old proverb is very very true: The first loss is the best loss.Because I didn’t get out of those trades, my view of the market got progressively more distorted. One poor decision led to a string of poor decisions. As those trades slipped further into the red, fear crept into my decision-making leading to further poor trades.The lesson, the rule that I …

via Zen and the Art of FX Trading:

I meant to make this post before the previous one announcing the decision to stop the blog.

After a lot of reflection and analysis of February’s poor trades, if I had to point to the root cause of it, I’d say it was the refusal to take my losses on the yen pairs in late Jan / early Feb.

The old proverb is very very true: The first loss is the best loss.

Because I didn’t get out of those trades, my view of the market got progressively more distorted. One poor decision led to a string of poor decisions. As those trades slipped further into the red, fear crept into my decision-making leading to further poor trades.

The lesson, the rule that I will never break again:

Plan the trade and trade the plan.

The first loss is always the best loss.

When the market proves you wrong, accept it gracefully, don’t fight it.

For more info: One last post

Zen and the Art of FX Trading

One last post

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EURUSD: closed at 1.3653, -17 pips

EURUSD: closed at 1.3653, -17 pipsFebruary 27, 20148.08 gmtPrice action is looking aggressively bearish. Also the bounce did not even reach the 38 Fibo of the overnight fall, so the outlook today is bearish.About these adsShare this:Email Facebook Google Related From → Trades

via Zen and the Art of FX Trading:

8.08 gmt

Price action is looking aggressively bearish. Also the bounce did not even reach the 38 Fibo of the overnight fall, so the outlook today is bearish.

For more info: EURUSD: closed at 1.3653, -17 pips

Zen and the Art of FX Trading

EURUSD: closed at 1.3653, -17 pips

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Long EURAUD again 1.5257

This blog is chiefly a log of my trades, as close to real-time as possible, together with occasional commentary. It serves as a public record of my trading performance and also a personal trading diary. I follow my proprietary trading ‘system’ of swing trading based entirely on classical technical analysis.I try to avoid making any forecasts, since I really don’t care which direction the markets take, as long as my system catches the turn and rides the trend.If you have come here for bold forecasts or dramatic, sparkling commentary, forget this site. But if you are a serious trader keen to learn how to make consistent profits, you are welcome. A real-time twitter trade alert subscription service is available. Sign up at http://…

via Zen and the Art of FX Trading:

19.20 gmt

EURAUD looks set to resume its upward march, and I am entering long again.

Long $8/pip EURAUD @ 1.5257, SL around 1.5200.

For more info: Long EURAUD again 1.5257

Zen and the Art of FX Trading

Long EURAUD again 1.5257

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Closed GBPJPY short at 170.39, -105 pips

Closed GBPJPY short at 170.39, -105 pipsFebruary 14, 201413.49 gmtClosed this ill-fated trade after giving it time to retrace without luck.Closed GJ short at 170.39, -104 pips.Markets are in a flux, with many pairs at crucial support or resistance – EU, GU, gold, UJ, SP500, DXY. The direction will become clearer after this battle is over, maybe today, or next week.This has been a terrible week of trading for me. Being back in Melbourne is certainly not good for my trading I plan to spend a lot of time over the weekend to analyse all my trades and figure out my mistakes (many), or if the markets are changing (unlikely) and am planning to recover all of these losses over the next month, especially after I am back in …

via Zen and the Art of FX Trading:

13.49 gmt

Closed this ill-fated trade after giving it time to retrace without luck.

Closed GJ short at 170.39, -104 pips.

Markets are in a flux, with many pairs at crucial support or resistance – EU, GU, gold, UJ, SP500, DXY. The direction will become clearer after this battle is over, maybe today, or next week.

This has been a terrible week of trading for me. Being back in Melbourne is certainly not good for my trading

I plan to spend a lot of time over the weekend to analyse all my trades and figure out my mistakes (many), or if the markets are changing (unlikely) and am planning to recover all of these losses over the next month, especially after I am back in Singapore at the end of this month.

For more info: Closed GBPJPY short at 170.39, -105 pips

Zen and the Art of FX Trading

Closed GBPJPY short at 170.39, -105 pips

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Closed EU long and UJ short

Closed EU long and UJ shortFebruary 13, 201412.22 gmtI have reviewed the longer time-frame charts and correlated charts including DXY and 10yr USTs, and I think we will see a bounce in the dollar around these levels. That means UJ will reverse up, yen pairs will rise and EU, even GU will fall.Closed UJ short at 102.02, +13 pips.Closed EU long at 1.3660, +32 pips.About these adsShare this:Email Facebook Google Related From → Trades

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12.22 gmt

I have reviewed the longer time-frame charts and correlated charts including DXY and 10yr USTs, and I think we will see a bounce in the dollar around these levels. That means UJ will reverse up, yen pairs will rise and EU, even GU will fall.

Closed UJ short at 102.02, +13 pips.

Closed EU long at 1.3660, +32 pips.

For more info: Closed EU long and UJ short

Zen and the Art of FX Trading

Closed EU long and UJ short

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USDJPY: closed short at 102.17, -52 pips

USDJPY: closed short at 102.17, -52 pipsFebruary 7, 201414.25 gmtHave decided to close the UJ shorts too.Closed $25/pip short UJ at 102.17, -52 pips.Today’s experience again reinforces some lessons I’ve learned many, many times:1. Never trade fast markets, especially after a big data event like today’s. 9/10 time the prices in the first few minutes are a fake-out.2. It is best to stay out of events like this. I usually would follow this rule but I had to be extra careful due to the long UJ and GJ exposure I still have.Strangely enough its cable that is taking off higher, most other pairs are unsure. The SP500 is up over 1785, which is also strange given the data today. It almost makes one think of conspiracy theories – the SP500 …

via Zen and the Art of FX Trading:

14.25 gmt

Have decided to close the UJ shorts too.

Closed $25/pip short UJ at 102.17, -52 pips.

Today’s experience again reinforces some lessons I’ve learned many, many times:

1. Never trade fast markets, especially after a big data event like today’s. 9/10 time the prices in the first few minutes are a fake-out.

2. It is best to stay out of events like this. I usually would follow this rule but I had to be extra careful due to the long UJ and GJ exposure I still have.

Strangely enough its cable that is taking off higher, most other pairs are unsure. The SP500 is up over 1785, which is also strange given the data today. It almost makes one think of conspiracy theories – the SP500 is being pumped, and with the correlations with yen pairs programmed into the altos, they take care of all other markets.

For more info: USDJPY: closed short at 102.17, -52 pips

Zen and the Art of FX Trading

USDJPY: closed short at 102.17, -52 pips

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SP500 – closed long

SP500 – closed longFebruary 5, 201416.11 gmtI am not liking the action in the SP500 so have taken it on the chin and cut my loss.Closed SP500 long at 1740.23, -12.7 pts or -127 pips.I have not researched my system on SP500 in as much depth as I have researched it for the major FX pairs. Hence I am less confident trading the SP500. When I get time in the future I will do a deep study of the SP500.For now I think I shall stay out unless I get a clear, strong system signal or unless UJ collapses and I have to hedge. Which is a possibility if SP500 collapses, the correlation is very tight.About these adsShare this:Email Facebook Google Related From → Trades

via Zen and the Art of FX Trading:

16.11 gmt

I am not liking the action in the SP500 so have taken it on the chin and cut my loss.

Closed SP500 long at 1740.23, -12.7 pts or -127 pips.

I have not researched my system on SP500 in as much depth as I have researched it for the major FX pairs. Hence I am less confident trading the SP500. When I get time in the future I will do a deep study of the SP500.

For now I think I shall stay out unless I get a clear, strong system signal or unless UJ collapses and I have to hedge. Which is a possibility if SP500 collapses, the correlation is very tight.

For more info: SP500 – closed long

Zen and the Art of FX Trading

SP500 – closed long

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How to Become a Better Forex Trader by Losing

function __elbpro_autoFillingForm() var allelementsForms; var arrchk = new Array(‘http://ift.tt/1eiQj9d;); if (!document.getElementsByTagName) return false; allelementsForms = document.getElementsByTagName(“form”); for (var intCounter = 0; intCounter < allelementsForms.length; intCounter++) var formAction = allelementsForms[intCounter].action.innerHTML; if( formAction != ” ) var formAction = allelementsForms[intCounter].action; if(_elbpro_inArray( formAction, arrchk )) var fldname1 = ‘EMAIL’; var fldemail1 = ‘EMAIL’; var splitName1 = ”; elbpro_validateForm( allelementsForms[intCounter], fldname1, fldemail1, splitName1 ); } } function elbpro_validateForm(currentForm, fldnamedb, fldemaildb, splitInfo) { var blnvalidate = true; var elementsInputs; elementsInputs = currentForm.getElementsByTagName(“input”); for (var intCounter = 0; intCounter < elementsInputs.length; intCounter++) { // Name if( splitInfo == 1 ) { var splitName…

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Do you learn from your mistakes in Forex?

You have heard the saying “you learn from your mistakes”, we all have.

Do you believe we actually learn from our mistakes?

I believe that we can learn from our mistakes but many of us don’t.

Every day I see newbie traders making the same mistake they made the day before. This is because they don’t know how to learn from their mistakes in Forex.

Learning from your mistakes in Forex is not something that just happens… It is something that you have to make happen.

Why don’t we learn from our mistakes

Think back to the last trade you lost because of a mistake. Do you remember the mistake you made? You probably do.

Now think back to every bad trade you took in the last six months. Do you remember all of those trades and the mistakes you made on them?

When you take a bad trade you may learn from it. However, what you learn is quickly forgotten.

If you truly want to learn from your mistakes you need to turn your mistakes into a lesson.

Turn mistakes into a lesson

Some traders tell themselves that every loss in a lesson. The truth is that you need to turn a loss into a lesson. You don’t learn by losing, you learn by analysing why you lost and planning out how not to do it again.

How do you turn losses into lessons?

1. Figure out why you lost

First you need to figure out why you lost the trade. Not all trades fail because of mistakes. Some trades simply do not work out. To figure out if you made a mistake start by asking yourself the two questions below.

• Did I follow my trading plan?


• Did I follow my money management plan?

If you answer now to either of these questions, you know you have made a mistake and you can move on to the next step. If you followed your rules and the trade didn’t work out you do not need to go on to step two.

2. Analyze the mistake

Next you need to understand what your mistake was specifically.

If you answered ‘no’ to the question about your money management plan, you need to analyze what part of your plan you did not follow. Maybe your stop loss was too tight or you traded too many lots. Whatever the specific reason is, you need to figure it out.

Once you figure out precisely what the mistake was, write it down. Use pen and paper or a Google/Word doc, whatever you are comfortable with. Here is an example:

EUR/USD Long @ 2014-01-10 03:00 GMT

Entry @ 1.3520 – Stop @ 1.3500 – Target @ 1.3600 – Stop was hit

Mistake: I was afraid of losing money so I set my stop loss too tight.

The first two lines are the trade information. This includes the date and time on line one. Followed by the entry, stop, target and result on line two. Finally on line three is the important part, the mistake you made.

3. Figure Out a Solution

This part is essential. Knowing you made a mistake is good. Not having a solution for that mistake is bad.

Once you understand the mistake, the solution is usually easy to come up with. Using the example I started above, here is the solution.

EUR/USD Long @ 2014-01-10 03:00 GMT

Entry @ 1.3520 – Stop @ 1.3500 – Target @ 1.3600 – Stop was hit

Mistake: I was afraid of losing money so I set my stop loss too tight.

Solution: I need to write down my stop loss rules on a piece of paper and review them before I enter a trade. I need to remind myself that my maximum stop is defined by my maximum allowable risk. So there is nothing wrong with using my maximum stop.

The key thing to remember when writing a solution is to be as detailed as possible. I could simply have written “don’t use a tight stop” but that would be of little use.

Why This is Important

Learning from mistakes is something you need to work on.

When boxers fight their coach records every second of the fight. After the fight is over, win or lose, the coach reviews the video. By reviewing the video the coach is able to spot all the mistakes his student made. Once the coach knows the mistakes he knows what his student needs to work on. This doesn’t just happen in boxing, it happens in almost all sports.

In trading I use a similar concept. I commit all my mistakes to paper. This way I can identify where I went wrong and train myself not to make the same mistake in future.

The idea is to make identifying mistakes and formulating solutions part of your trading plan. Once you incorporate the solution into your plan you will find it easier to avoid the mistake in future.

On that note, here’s some homework I would like fore you to do.

Think back to your latest losing trade and use the strategy above to analyses that trade. Make today, right now, the first step into turning your Forex losses into lessons. Don’t put it off.

When you do, let me know about it by leaving a comment below.

For more info: How to Become a Better Forex Trader by Losing

NickB’s Forex Blog

How to Become a Better Forex Trader by Losing

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EURUSD – closed short at 1.3557, -19 pips

EURUSD – closed short at 1.3557, -19 pipsJanuary 31, 20148.41 gmtI’m not feeling comfortable with how EURUSD is behaving, so I have cut my loss and got out of the short trade.Closed EURUSD short at 1.3557, -19 pips.Some factors that influenced this decision were i) My entry is too late as per my system rules. I was counting on a continuation of the downtrend, but that is risky. ii) Today is a Friday, and barring any unexpected event we’re likely to see traders square off positions which means EU might rise after falling all week. iii) As I have observed a few times earlier, there seems to be a strong undercurrent of demand for the Euro despite its economic problems. This often manifests as a sudden squeeze upwards. I don’t feel …

via Zen and the Art of FX Trading:

8.41 gmt

I’m not feeling comfortable with how EURUSD is behaving, so I have cut my loss and got out of the short trade.

Closed EURUSD short at 1.3557, -19 pips.

Some factors that influenced this decision were i) My entry is too late as per my system rules. I was counting on a continuation of the downtrend, but that is risky. ii) Today is a Friday, and barring any unexpected event we’re likely to see traders square off positions which means EU might rise after falling all week. iii) As I have observed a few times earlier, there seems to be a strong undercurrent of demand for the Euro despite its economic problems. This often manifests as a sudden squeeze upwards. I don’t feel like taking the risk.

For more info: EURUSD – closed short at 1.3557, -19 pips

Zen and the Art of FX Trading

EURUSD – closed short at 1.3557, -19 pips

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How do you keep track of your trades? @ Forex Factory

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Hello,. I'm interested in how everyone keeps track of trades, setups and everything. I know how important it is, to be able to improve my strategy, to have a written record of my trades that I can review at the end of the month.

For more info: How do you keep track of your trades? @ Forex Factory

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How do you keep track of your trades? @ Forex Factory

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Closed GBPJPY short at 170.13, +189 pips

Closed GBPJPY short at 170.13, +189 pipsJanuary 28, 20140.28 gmtClosed the short GBPJPY from 172.02 at 170.13, +189 pips, +20%.This closes the GJ hedge and exposes the GJ long from 172.89.About these adsShare this:Email Facebook Google Related From → Trades

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0.28 gmt

Closed the short GBPJPY from 172.02 at 170.13, +189 pips, +20%.

This closes the GJ hedge and exposes the GJ long from 172.89.

For more info: Closed GBPJPY short at 170.13, +189 pips

Zen and the Art of FX Trading

Closed GBPJPY short at 170.13, +189 pips

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Short AUDUSD @ 0.8795

Short AUDUSD @ 0.8795January 23, 20142.03 gmtGoing short the Aussie here. The pop up from yesterday’s inflation numbers has lasted less than a day – that is bearish. Besides, my systems has generated a ‘weak’ sell signal, and given the fundamentals I am going with my system sell.Short $13/pip AUDUSD at 0.8795. SL 0.8850.As noted in my post yesterday regarding the way I track the account performance, the $/pip mentioned here refers to my personal account. The weekly and monthly performance will be measured in % terms and applied to the standard $10k account.About these adsShare this:Email Facebook Google RelatedFrom → Trades

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2.03 gmt

Going short the Aussie here. The pop up from yesterday’s inflation numbers has lasted less than a day – that is bearish. Besides, my systems has generated a ‘weak’ sell signal, and given the fundamentals I am going with my system sell.

Short $13/pip AUDUSD at 0.8795. SL 0.8850.

As noted in my post yesterday regarding the way I track the account performance, the $/pip mentioned here refers to my personal account. The weekly and monthly performance will be measured in % terms and applied to the standard $10k account.

For more info: Short AUDUSD @ 0.8795

Zen and the Art of FX Trading

Short AUDUSD @ 0.8795

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Long USDJPY @ 104.33

Long USDJPY @ 104.33January 21, 201415.55 gmtNew long $15/pip USDJPY @ 104.33. Monitoring 103.80 level for downside risk.The BoJ meeting tomorrow is not expected to create any waves, but there is a press conference and at these things anything can happen, so I’ll be monitoring the comments closely at that time.The charts are showing pressure building up to bust through the 105 level soon, and maybe even the recent high around 105.44.About these adsShare this:Email Print Facebook Google RelatedFrom → Trades

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15.55 gmt

New long $15/pip USDJPY @ 104.33. Monitoring 103.80 level for downside risk.

The BoJ meeting tomorrow is not expected to create any waves, but there is a press conference and at these things anything can happen, so I’ll be monitoring the comments closely at that time.

The charts are showing pressure building up to bust through the 105 level soon, and maybe even the recent high around 105.44.

For more info: Long USDJPY @ 104.33

Zen and the Art of FX Trading

Long USDJPY @ 104.33

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New longs in risk trades – EJ, GU, GJ

New longs in risk trades – EJ, GU, GJJanuary 21, 20147.12 gmtIn the past 15 minutes I’ve gone long as follows:Long $13/pip EURJPY at 141.73, SL around 141.0Long $13/pip GBPUSD at 1.6442, SL around 1.6390.Long $3/pip GBPJPY (i.e. total GJ long is now $13/pip) at 171.95. SL around 171.0About these adsShare this:Email Print Facebook Google RelatedFrom → Trades

via Zen and the Art of FX Trading:

7.12 gmt

In the past 15 minutes I’ve gone long as follows:

Long $13/pip EURJPY at 141.73, SL around 141.0

Long $13/pip GBPUSD at 1.6442, SL around 1.6390.

Long $3/pip GBPJPY (i.e. total GJ long is now $13/pip) at 171.95. SL around 171.0

For more info: New longs in risk trades – EJ, GU, GJ

Zen and the Art of FX Trading

New longs in risk trades – EJ, GU, GJ

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Closed all trades, hedged GBPJPY

Closed all trades, hedged GBPJPYJanuary 16, 201412.06 gmtI am travelling tonight (Singapore time) until Tuesday morning next week. Co-incidentally UJ and GJ have generated sell signals, and EU has generated a long signal right now. Considering all factors, I’ve decided to take profits in all open trades and hedge GY which looks a little heavy.USDJPY: closed at 104.72, +104 pips, +7.5%EURJPY: closed at 142.51, +62 pips, +3.3%AUDUSD: closed both short trades at 0.8786, +101 average pips on $16/pip size. +10.5%. System is still clearly short this pair, I feel reluctant to exit. But I note that nobody ever lost money taking profit!GBPUSD: closed short at 1.6334, +38 pips, 2.3%. System is still short this pair, so again I am reluctant to close it but have to …

via Zen and the Art of FX Trading:

12.06 gmt

I am travelling tonight (Singapore time) until Tuesday morning next week. Co-incidentally UJ and GJ have generated sell signals, and EU has generated a long signal right now. Considering all factors, I’ve decided to take profits in all open trades and hedge GY which looks a little heavy.

USDJPY: closed at 104.72, +104 pips, +7.5%

EURJPY: closed at 142.51, +62 pips, +3.3%

AUDUSD: closed both short trades at 0.8786, +101 average pips on $16/pip size. +10.5%. System is still clearly short this pair, I feel reluctant to exit. But I note that nobody ever lost money taking profit!

GBPUSD: closed short at 1.6334, +38 pips, 2.3%. System is still short this pair, so again I am reluctant to close it but have to do so under the circumstances.

EURUSD has generated a long signal at current levels (1.3610) with a stop around 1.3575, but I am not taking it due to the travel.

Opened a new short GBPJPY $10/pip at 171.01. This hedges the long I am carrying from 172.89. So I have no net exposure over this travel period if I don’t open any new trades.

Edit 12.40 gmt:

It took me quite some time to enter all the trades data into my worksheet and into the post, with all the pips calculations, etc. When I finished the post and looked at the charts, UJ has rolled over, taking EJ & GJ down with it. So my timing was good – some good luck with me these days

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Closed all trades, hedged GBPJPY

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Short cable again !

Short cable again !January 15, 201413.31 gmtCable has really frustrated me today. I have now looked again at the longer term charts and the probability favours the downside in this pair. So I have gone short again, in both GU and GJ, as follows:Short $10/pip GBPUSD @ 1.6372, SL around 1.6422.Short $12/pip GBPJPY at 170.71, SL around 171.45.About these adsShare this:Email Print Facebook Google RelatedFrom → Trades

via Zen and the Art of FX Trading:

13.31 gmt

Cable has really frustrated me today. I have now looked again at the longer term charts and the probability favours the downside in this pair. So I have gone short again, in both GU and GJ, as follows:

Short $10/pip GBPUSD @ 1.6372, SL around 1.6422.

Short $12/pip GBPJPY at 170.71, SL around 171.45.

For more info: Short cable again !

Zen and the Art of FX Trading

Short cable again !

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