Took this short trade on the GU at 1.6366 (arrow shown) where the stop run was made on significant level 1.6378 – this level was clearly tested over the past 24 hours. No clear direction so was trading to both sides of the market.
This was taken during Sterling’s live room and taken about an hour before the release of the CPI (Consumer Price Index) news.
I’d moved stop loss to break even once 30 pips had been reached. Was not sure whether my take profit level would be fulfilled as there was an old significant level around 1.6330 which was looking to become a possible support level.
Remained patient and the 16.15 GMT candle pushed through and gave me +40 pips.
My overall mood however was slightly anxiety, knowing that there was imminent news which could potentially rock the trade, sending it in the opposite direction and also the fact that my entry was no great as I didn’t wait for a better pullback, so my TP level was below a potential support level. Was not sure whether it was going to reach my +40 but I was willing to accept a losing trade if not.