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| GBPUSD Discuss price action in the British Pound versus the US Dollar. |
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| GBPUSD Discuss price action in the British Pound versus the US Dollar. |
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I like this short trade as the charts look really good ... that might makes it dangerous
![]() P: 1.6029Targets are
I posted more details incl. charts here: GBP USD Short Opportunity Last edited by trustFX; 10-08-2009 at 11:26 PM. |
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from what you say in the analysis:
you going in base on the weekly, daily, 4hrs chart. and all chart is trending down. then you decide open position, actually your first profite already hit, so the things you are waiting now were the second and third profite. from what i see, it's a good trading. but may i have some question: I just what to confirm with you, before you sell the JBP/USD, have you take a look the 30mins charts. because i really don't know how to trade sometimes. always loss money one. thanks. |
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Quote:
The first TP target has been reached same day. I wait and see what the price is doing now. Will it consolidate or continue going down? I definitely will not allow this trade to turn negative. I moved the SL to 1.60 for now. Last edited by trustFX; 10-11-2009 at 04:58 PM. |
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Quote:
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Fundamentally I am still bearish on GBP. And as long as GBP USD is lower than 1.6130 the downtrend stays intact as well.
However, with equities and gold going higher almost every day, the USD is weak. Can this continue forever? Most likely not, but I am not the one trying to catch the reversal. Too expensive! Therefore I entered long EUR GBP yesterday @0.9320. |
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yep, that long trade was painful. Got caught on the wrong side.
A bit more on that here: Trading Blog: GBP Panic I stand aside from GBP for a while and wait until things settle down. Wouldn't mind if EUR GBP goes back to 90 (or 88) ... so that I can go long again
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