Posts Tagged gbpusd
The markets have really taken a bashing yesterday.. lots of volatility and not easy to play.. you could have easily been caught out on the sharp reversals which were seen this morning.
Anyway, a forex pair which looks interesting is the GBPUSD or cable forex pair. The price action has fallen from the previous area of resistance and looks to be close to support. I've got an order to buy at 15480 with a stop at 15435 (45 pips maximum loss) and a target at 15680 (200 points profit).
Let's s
August 2, 2012
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Nothing much to say about todays trade. The market had rallied strongly on Friday and then drifted. From the market opening last night and until this morning, the market was consolidating.. not doing too much but you can see that the price was bouncing between a range.. ther resistance at 15850 and support at 15820. The break at resistance was my cue to go long giving me 25 pips as I took profit.
March 19, 2012
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Look at the 4hour chart below of the GBPUSD forex pair (or cable) and you can see the resistance line. The arrows show where the price action had hit this line and bounced off it.. on the third time of this happening, I shorted with a stop just above the break level. As you can see, I lost on this one and took a 20 pip loss.
However, I also knew that objectively, that a break of the resistance could have been a great break out trade.. as you can see, it was indeed but being in the trade and
March 16, 2012
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