GBPAUD Order canceled, and opened a new one on GBPNZD

The market closed above the highest high of the pattern that triggered the order, therefore it was canceled as mentioned on the previous post.

Be happy though, because there is another one on the GBPNZD. Both, the GBPAUD and GBPNZD are positively correlated, so it wouldnt be wise to open trades on both of them (you are most likely to get the same result on both, risking more than you initially planned). But the signal was triggered on both of them, so I decided to close the order on the GBPAUD and open a new one on the GBPNZD (which is still valid).

Here are the details of my order:

Entry stop: 1.8681

SL: 1.8751

TP: 1.8455

And again, if the market closes above the highest high of the pattern that triggered my order I will again cancel this one.

Trade Safe!

Raul Lopez

Forex Course

Tags: ,


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .