It's looking like the British Pound is going to press up into our entry point for a nice opportunity to short the market. The risk/reward profile I have established in my trading plan is not to take trades that offer less than 70% Risk/Reward from the 1st take profit point and the stop loss. With this rule in mind, I look for opportunities to place stops around recent structure pivot points. This is a strategy I have back tested and used for some time, but feel free to use your own trading plan rules for stop placements on this trade. Good Luck!
-David
Become a Native of the Forex Market: www.forexnative.com/
-David
Become a Native of the Forex Market: www.forexnative.com/