GBPUSD Trade setup - 11 Apr 2011

Took this trade after i saw price closed out of the bullish TL but resulted in a fake break out which push price back to retest previous high at 1.64250. Lost 50pips on this trade.



This is the 2nd trade i took after i saw price failed to break the previous high forming a double top. I placed a pending sell order right after the IB formed. Currenlty still in the trade with 60pips profit.

EP: 1.63800
SL: 1.63800 (previously set to 1.6430)
TP: 1.62700 followed by 1.6200



Trade update: TP hit 110pips