GBPUSD Trade Setup - 08 Mar 2011

After watching price failed to break asian high, with a pin bar at 5am GMT, i decided to place an agressive sell order at 1.6200 with tight SL at 1.6220 due to londo time is not open yet. My objective is to catch the bear wave down again before london session thus my stop loss is very tight for this trade. 1.6180 need to be broken inorder for bear to push it lower.

EP: 1.6200
SL: 1.6220
TP: open price for now.



Trade update: Trade closed at 1.6178 due to TS at 50pips.