Thursday, May 20, 2010

GBP/USD: 105 pips gain

Shorted GBP/USD today at GMT 9:56 at 1.4354 with 105 pips profit target. And it hit my PT slightly more than 4 hours later. Few reasons that lead to entry of this trade, it was slightly later than my normal entry time as the direction were unclear earlier, and I had to be away from the screen, lastly it finally managed to breakout to the downside. Entered the trade and went out for dinner at Desa ParkCity and came back to see the green color box. Yeah...full profit target. Great satisfaction from this trade. The pair staged a rebound to EP within 2 hours after touching my PT. Highly volatile pair that has lots of opportunities.

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