So for those of us that were not in GBP overnight, it looks like we had an early Xmas present. I happened to log in around 730am today, and found a huge downward movement on the GBPUSD. I looked around at the news and did not find anything substantial that would cause this to happen, so I decided to enter a buy position. I was lucky enough to get in about 30 pips from the bottom, after I noticed some resistance.
GPDUSD, buy @ 1.5276, S/L @ ~1.5200 (I dont remember the logic probably just enough to keep my losses at 3% if I was wrong), TP @ 1.5500.
I ended up moving my TP to 1.5800 and putting a 45pt trailing stop.
Position was closed at 1.5362 + 86 pips
Since I saw the downswing that closed me out as temporary, I decided to re-enter the trade,
GBPUSD, buy at 1.5346, SL at 1.5309, TP at 1.5800 with a 45pip trailing stop.
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