Possible Short & Long Position for GBP/USD_Trade Plan 2017.06.18

D1, H4, and H1 show the overall trend is still down with price is holding down below MA200.
However, in D1, price seems rejected up from within major support area 1.26740-1.27753 and indicates a false break out (watch for further confirmation).
Currently in H1, price moves within Rising Price Channel slightly below resistance area 1.27754-1.28011.

Trade Plan 1:
If price breaks down this channel lower line, can consider to short the market to follow the overall down trend.
With Stop Loss 45 pips and Target Profit 90 pips, the potential trade offers 2.00 Reward-To-Risk Ratio.
For aggressive approach and better Reward-to-Risk Ratio, can short the market when price touches the channel upper line and rejected down.

Trade Plan 2:
If price breaks up this resistance area, pull back to it, and rejected up, long the market to follow the trend reversal to the upside.
With Stop Loss 45 pips and Target Profit 135 pips, the potential trade offers 3.00 Reward-To-Risk Ratio.

Trade stängt: målet nått:

Close position on Trade Plan 1 with full Target Profit reached (2.00 Reward-To-Risk Ratio).
Almost stopped out yesterday, but the plan work out pretty well.