Closed GBPUSD long; now flipped short

13.32 gmt

It was bad timing on the cable long, not supported by a long signal – in fact the earlier short signal was still valid. I must cane myself for not trusting my system rules!

I’ve closed the long at 1.6314, for a loss of exactly 100 pips. I have now added a short at 1.6314, small risk at $5/pip. SL is at 1.6405.

The ECB press conf is about to start – always a fascinating piece of drama, especially in conjunction with the price action in EURUSD at the same time. I’ve learned the hard way to ignore the price action during the event, there will always be good opportunities after the event.

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2 thoughts on “Closed GBPUSD long; now flipped short

  1. Pushkar

    my setup also indicating short on GBPUSD . I shorted at 1.6321. EURUSD at US gdp result was looking short but after 4hrs it reversed

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    1. ZenFXTrader

      Thee whiplash you refer to almost always happens during the ECB press conference. And for the past couple of years, the ECB press conference has often coincided with the US GDP data. Two hugely important data releases at the same time! No wonder we see strong whiplashes! I’ve found its best not to enter trades during the 1.5 hour of the press conference.

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