Post Trade Video +100 Pips GBP/USD 8hr

GBP/USD Price Action Based Short Reversal

I shorted GBP/USD this week after seeing a reversal set up. This trade was a little different to most of my trades.

In the video below I walk you through this trade and show you how I traded it. I also explain how I use Price Action to confirm a reversal before entering it.

This trade ended up hitting both my targets giving me an average gain of 100 pips.

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14 thoughts on “Post Trade Video +100 Pips GBP/USD 8hr
  1. Thanks Nick. Wish I would have took this setup but I took the reversal of your reversal trade which turned out to be a bad trade (which coincided with your exit). I ended up going long due to the indecision candle around the 1.5250 area and entered long at once price broke 1.5275. However, it quickly reversed as you can see . Any thought on this setup although u didn’t trade it?

    1. Much like the trade in the video, your entry was too early. I was looking to enter at the 1.5280, and it never triggered. In the video I mentioned not wanting to short too early.

      1. Good to know you were looking at taking it as well. If I could have just waited a few more pips I would’ve avoided losing 35+. Thanks for the insight

  2. Hi Nick – apologies if you have answered this somewhere else and Im sure its a question that has been asked before. My candles on my 8 hour chart look different from yours. I am looking at my charts (I use the Trade Interceptor app on my iPad as I move around a lot without a laptop) and my candles are different. My candles don’t show either the strong preceding trend (I have 2 bullish and 2 bearish candles) and where your indecision candle(s) is/are I have one short wick bullish candle followed by one long wick (but pointing down) bearish candle. I took a photo of my screen and posted it here. I therefore did not take this trade but had my charts looked like yours I probably would have. Sorry if its something really simple and stupid! Thanks.

    1. It is actually something very annoying and I do not blame you for not understanding it. For some reason brokers do not have a globally recognised open/close time for candles. My 8hr candle opens at 02:00 GMT whereas yours probably opens at 00:00 GMT. These different open and close times will change how your candles appear.

      It is pretty annoying that brokers do not have any consistency in their charts.

      However, this is generally not a big issue. Most trades will line up anyway. There will be a few trades I see that you don’t and a few trades that you see and I don’t. By the end of the year it all averages out.

      1. Thanks Nick – just in case anyone else is having this same problem I managed to find a solution if you’re using Trade Intereceptor – if you click the timeframe button at the top right of your chart you can select opening timeframes – if you select 17:00 EST your candlesticks will look like Nick’s

  3. Thanks Nick! Love catching up with these videos. Don’t have any time to trade and keep and eye on it, but great to keep my hand in with your videos until I’m free again.

  4. Would you enter long at 1.52648? As you can see in this video, a hammer (indecision candle) formed in this level.

  5. Geoff taylor
    Nick, I’ve just joined your group. this is the first video I’ve watched and I’m impressed that you’ve taken the time to explain your actions, which I appreciate from previous mentoring. I look forward to watching more, although, possibly like many other frustrated wan-a-be traders with not much spare time, I try to look at my other 2 peers also. One of them by the way is from your neck of the woods, Nial Fuller, who I respect.
    Cheers, looking forward to more teachings

  6. hello nick.I have been blessed by your question is,with price action trading,don’t you ever put indicators into stochastic,moving averages and MACD e.t.c

  7. Hi Nick,

    Really appreciate your live trading videos. My question is, why were you not concerned about the minor SR level formed by the price peak 9 candlesticks back from the indecision candlestick?