Posts Tagged long gbpusd
As you can see from teh chart, there has bene quite a long consolidation channel.. it's almost been 4 days since the market has been bouncing around 15200 and 15080.
I had two lines, 15209 and 15083 and was looking to take a position if the market went beyond this range.
The market did indeed break above my upper line and I went short with a stop at the bottom of the line, 15083 and a 100 pip limit. However, the immediate short term top was 15220 or so before the market fell.. it's current
July 6, 2010
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This was my trade today.. two long entries at 1.5433 with a target of 1.5463 and 1.5493 with a stop at 1.5397. The annoying thing is that this was hit and I ended up down 2 x 30 pips loss.
You can see that the market then went up and would have hit target 1 and just shy of target 2.
Most annoying but there you go....
April 14, 2010
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I've heard that you don't do yourself any favours if you think too much about a position when trading. In fact, there was something that the more academic a person is, the more they have to justify their decision before making the trade.. in the fast move world of trading, by the time your neurons have worked out what to do, the market has already moved and along that, the opportunity.
My trade set up today was a long if the GBPUSD went above 15287. The usual limit with this breakout trade is
April 9, 2010
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