GBPUSD - A small bump in the way...

It´s been a while since my last post...  So, what happened with my last analysis... wasn´t accurate enough.  With a retracement in mind, I entered short in the gbpusd in oct 19th.    You may remember that I was expecting a retracement in price and then go long, but I tempted my luck and try to get advantage of this movement too. Let´s analyze the next chart...

Price reach 1.6398 and started to decline. Two bars later, I entered short @ 1.6340 and established my stop @ 1.6416
My stop was around 15 pips above the previous high (1.64 aprox).  That way I was giving enough space to price reaction and not get stopped out to soon but not too far to get really hurt. Price nicely behave as predicted and started to go down so my possible targets were between the fib retracement levels.  More that likely price should retract at least 1.6134, 1.6053 or 1.5971, I thought... Then price eventually retract to the first fib level of 78.6% @ 1.6250 (price reached 1.6241) and go further upwards.

I was kicked out a few hours later with a 78 pips lost.  That´s not too bad due my money management.  Always remember to have strict money management rules because you want to be there tomorrow.

I´m going to post soon what I think is happening lately...