(J) Trade 17 : Short term Bearish Setup #forex

Update: Stopped out
Balance = 28 927 - 630 = $28 297
===========================================================================

Trade 17: Pending Short GBPUSD @1.5530
Trade Status: Pending
S.L @ 1.5635
T1 1.5410
T2 1.5210

Balance = $28 927 Position size = 0.6 lot ~ 2% risk of capital
===========================================================================
Reasoning

• 50-days SMA and Short term trend line could imply short term downside pressures
  
• Pin Bar
  
• Short term overbought Stochastic
  
• Short term trend is down (lower lows and lower highs)
  

Don't forget to click the Thumbs Up
Wish me luck and best of luck for everyone.

For Trades rules and guidelines follow this link

My best regards
Technician
Subscribe to my trading portal thefxchannel.com