Friday, October 30, 2015
GBP/USD Long Trade, hold over the weekend or not?
I got myself into this long position on the GBP/USD forex pair yesterday. I entered at the break of the that big bullish engulfing bar and so far the trade has gone in my favor about 55 pips. I have moved the stop to break-even and the plan here is to wait for price to hit my take-profit order at 1.53919. If that take-profit orders doesn't get hit today, I will keep the trade open over the weekend, which can be risky. I have had several situations in the past where the market opens on Sunday evening with a huge gap bellow my stop-loss, but those usually happen when there is some kind of economic calamity or some central bank intervention.
