My short position on GU
Based on break and retest of the uptrend trendline, consolidation around retest and break of the box.
I wanted to enter after retest of the box following bearish confluence but I wasn't at the PC at the moment, 40 pips stop loss is not bad so I took the trade.
The take profit is at the second touch of trendline (B).
We can also hold the trade till the first touch (A) the starting point of the trendline, but I recommend to at least take partial profit at B level.
1:5 R:R
Based on break and retest of the uptrend trendline, consolidation around retest and break of the box.
I wanted to enter after retest of the box following bearish confluence but I wasn't at the PC at the moment, 40 pips stop loss is not bad so I took the trade.
The take profit is at the second touch of trendline (B).
We can also hold the trade till the first touch (A) the starting point of the trendline, but I recommend to at least take partial profit at B level.
1:5 R:R