Trade of the day 11 June 2010: $GBPUSD Short

by Gav 2010-06-11T11:03:02Z

I thought I was going to call it a week early, but Cable gave me some bonus before the weekend. I was looking to short $GBPUSD around 1.48 area, however, the sluggish price action around 1.47 and yesterday's high prompted me to give it a short earlier. 2 profit targets were achieved, and 1 still trailing. I am considering to buy some around 1.46, let's see.

Here is the CHART!

Have a great weekend!

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Gav (Trader Gav) — Trackback2010-06-11 00:03:42 UTC
Trade of the day 11 June 2010: $GBPUSD Short http://bit.ly/9PROBr
Gav2010-06-11 05:25:04 UTC
Yup, I entered a little early. The spike was annoying, wasn't it? I normally use average true range to set the initial stop to allow some space for market to breath before moving in my favor. And I will start moving stop once the trade is working.
Andre Siregar2010-06-11 20:06:28 UTC
Really nice, Gav. I saw this from the 1-hour chart, but didn't take the trade as I was about to leave the house (didn't think price would go that far either, heh). So you entered a bit early? How did you set your stop loss in this case?

Trade of the day 11 June 2010: $GBPUSD Short

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