Tuesday Recap

My trade may have been a good idea, but again failed in the execution.

On the European open the Sterling went from 1.7460 to around 1.7395. Unfortunately, my sell order was triggered at 1.7410, and since my T/P was at 1.7380 (S1 and Monday's low), it was never reached. Good idea, bad timing, it seems.

On the whole GBP/USD had a bullish day, even reaching and exceeding (at least for now), the 1.7500 level. Its very near the 1.7516 38.2 Fib retracement of January's high, and should it reach and exceed that level, I'm buying. The entry is 1.7522 (R1 for Tuesday's pivot point), T/P is 1.7542, S/L is 1.7502.



Tuesday's Totals: -20 pips