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Thread: GBP/USD Trading

  1. #41
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    Default Final Update

    This long position got closed this morning. GBP turned back around and my SL got hit. End up with 73 pips in the bag.

    It would have been another good short opportunity after it turned around but I was at work.

  2. #42
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    Default Short Trade 01/24

    I missed the early part of the downward move during london session but caught the price fib retracement level around 62% this am so I made my entry there.

    short entry @ 1.9748 + 80 pips so far.

    Final Update:
    I closed this position when I got home from work . +70 pips gain.

    Will wait for next entry opportunity.
    Last edited by ramrocket; 01-24-2007 at 07:43 PM.

  3. #43
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    Default 2 long positions

    Hi guys, I was following gbp pretty close this am before the london session. I was pretty sure my bias would be to short this pair. I really thought that the bears have taken over the market but was surprise to see a huge nice looking bullish candle right immediately after the session started. I waited to have my confirmation and sure enough it happened. So here are my 2 long entries.

    long @ 1.9684 + 39 pips so far.
    long @ 1.9700 + 27 pips so far. (added position)

    Another happy trading.
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  4. #44
    elang's Avatar
    elang is offline Superior Master Contributor and Member
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    Dear Ram,

    Could you please explain why you longed at 1.9684

    What was your entry criteria prior to execution ?

    Thanx.

    Regards,
    E. Lang

  5. #45
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    Quote Originally Posted by elang View Post
    Dear Ram,

    Could you please explain why you longed at 1.9684

    What was your entry criteria prior to execution ?

    Thanx.

    Regards,
    E. Lang
    Hi Elang,

    A visible gap occured @ .9684, rsi > 50, stocs heading up & not ob/os zone, cci > 0, momentum ok. every indicator was within reasonable expected parameters. as soon as the price got over the next resistance @ .9696 I added to my position.

    I was following the trades for awhile then the price came back down after hitting major resistance @ .9730. After it dropped big time I closed both positions. It's a big battle bw bulls & bears right now.

    wow -- what a comeback. +2 pips

  6. #46
    elang's Avatar
    elang is offline Superior Master Contributor and Member
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    Interesting approach.

    I noticed the gap myself, but i'd never traded on windows before so i prefered to wait it out untill after it broke the falling trend line.

    The price reached .9733 and came back down to test the trend line from what i can see, so its either up or down now.

    Regards and thanks once again.
    E. Lang
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  7. #47
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    Quote Originally Posted by elang View Post
    what i can see, so its either up or down now.

    Regards and thanks once again.
    E. Lang
    The signal and setup is confusing now so I'm staying on the sideline and let the smoke clear out. There will be another day.

  8. #48
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    Default Ramrocket

    Good Trading Ramrocket. What setting are you using for RSI,macd,stoch. Thank you for sharing your insights. I have learned alot from you and Elang.

    Paul

  9. #49
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    Quote Originally Posted by pwegner View Post
    Good Trading Ramrocket. What setting are you using for RSI,macd,stoch. Thank you for sharing your insights. I have learned alot from you and Elang.

    Paul
    Hi Pwegner, glad to help.

    RSI=10
    MACD=5,10,10
    Stocs=10,3,3

    Happy trading!

  10. #50
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    Thanks for your help Ramrocket. Have a good week trading.


    Paul

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