Trade Close: 2007-07-20 14:50
Well, after a few days of no trades, we were finally triggered on our short orders as UK GDP came in slightly higher than expected at 0.8% and more USD selling. Unfortunately, it did not work out in our favor as the upward momentum easily took the pair to our stop at 2.0585.
Total: -40 pips
Please close all remaining orders and go enjoy your weekend!
Trade Idea: 2007-07-19 23:35
Good evening! Okay, I didn’t want to do it, but we’re going with Cable one last time! Haha. Well, we have UK GDP later today, and market sentiment is that it will come inline. With the lack of any major news tomorrow, I expect Cable to be range bound as we close out the week.
So, i am short bias for the very short term. If we do see volatility later in the European trading session, it may be enough to trigger orders at the support an resistance levels I have drawn out on the chart. So, here’s our trade idea:
Let’s end the week strong! Good luck and good trading!