Posts Tagged currency

Impatience leads to lost profits – GBPUSD trading

Impatience leads to lost profits - GBPUSD trading

I got in a short at 1.5385 which was a nice entry with a stop at 1.5415. The market did worrying bounce up and got close but then fell. However, the path downwards was not straight and was showing some resistance... in comparison, the EURUSD had just fallen and this made me feel that the pound sterling had some strength today. The market was bouncing and I got tired of waiting for it to drop and I took my profit at 1.5335 for +50. However, a minute after I had done this, the market fell a furthe

November 28, 2008 No Comments Full Story

USDCAD – forex trade

USDCAD - forex trade

The USDCAD currency pair moved significantly lower today but it bounced off 12245. I saw that the forex pair was oversold and went in on the swing high after the initial pullback after the bounce off 12245. I got in at 12335 with a 50 pip stop..  I had no target this time round as I expected this to be a bounce before a possible retest of the support line (12245). The market went as high at 12420 but I got out at 12405 as the market formed a spike down.. I got my 70 pips!!

November 24, 2008 No Comments Full Story

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