Monday, Dec, 12 2011 GBP/USD

I haven't had the patience to update this blog in a while, and I haven't been taking many trades lately either. I do however want to share this trade that I just closed out. The reason for taking the trade was that we are in a down trend with no result after effort to rise, and also at the time we just penetrated the lower support line  and rejected higher prices on an inside bar. That was my initial entry, but soon after closed out with a minor loss when strength came in. However the next bar was a nice outside bar that completed a 2bar reversal so I went short again. My reasoning for closing the trade was because of the ultra high volume coming in.

result -7 , +55       Risk: 15
timeframe: 15m