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GBP/USD - British Pound US Dollar

Real-time Currencies
Currency in
USD
Disclaimer
1.2471
+0.0010(+0.08%)
Real-time Data

GBP/USD Discussions

This is a recap of my trading plan for the last 24/26 hours. I set up a buy stop at 1.247, which unforutnately triggered yesterday, so I was stuck in a losing position all of yesterday. It's not rebounded and I'm at break even (I picked up a small position at 1.242 though, and closed it at 1.247 for a bit of recovery profit). I have an SL at 1.239. I set a trailing stop to kick in at 1.252, with a hard TP at 1.26. I stuck to my trading plan, even when it was a bit grim yesterday (getting down to 1.2405) but I held firm and it looks like I will be vindicated today. Won't be posting too much as I'm a little busy today. But my opinion and trade plan is still valid, and looks like it will bear fruit. Keep in mind also I expect a near tem resistance of the 50SMA on the 1H which we are about to hit (1.2474) for you scalpers out there, good position to sell for 10-20 pips at that point. I however will be holding my buy position.
james tell me it would restest 1.2440 before going back up i want to hop on the ride :)
The best place to buy was that ascending trendline on your chart for the uptrend which sits around 2400-2420 area. At least you can get out of the 2470 buy and leave the lower one, or hold both if you believe in the up move.
thanks James for your analysis, this is great;)
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