GBPUSD Setup - 19 May 2011

I waited for retracement to complete after price break thru to form a new low since 18 Apr 2011. Price came back up during asian time to retest the previous day high but couldnt break it. A small pin bar was formed on the hourly chart which i placed a pending sell order at 1.6160 with SL looking at 1.6190 (slightly higher than previous high).

EP: 1.6160
SL: 1.6190
TP: 1.6100



Trade update: Closed at BE