GBPUSD counter trend 15m entry
Updated
This entry is counter trend, we're already in profit, I expect a maximum of 2:1 profit, we cannot extend this trade too much since this is a counter trend. I started risking 20 pips but again to be safe my stop is already covering the costs of this trade and i"ll keep an eye in case the price doesn't reach my target of 2:1.
Note
As you can see the target was reached and the trade closed. I was risking 0.25% on this trade due to higher risk of a counter trend trade. My entry was based on the resistance we have in the 4h chart, you can see the orange rectangle on my screen, also on the 15m chart you can see the last low didn't go too much above the Higher low as well as the last high didn't even reach the Higher high. I believe this is an indication the the price could consolidate for a little while before is goes bullish again.
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