GBPUSD: Example of a Short Trade

What do you think about such a short trade? The higher timeframes give us trend reversal signals. In the 1H chart the price broke SMA200 and now it is retesting SMA100 as a resistance line. If SMA100 can stop an upward movement, we should expect a reversal with a further downward movement to 1.2800 support.

Here is an example of a short trade:
Sell below 1.30000 Support
Stop above 1.31035
Profit Target at 1.28050

Risk per trade must be no more than 1-2% from the capital.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.