Trade Review: GBP/USD

May 31, 2006 10:55 PM UTC in Trade Ideas

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From the consolidation, we see a breakout during the euro trading session. A strong move downward triggered our short trade, and within the next five hours we reach full profit potential. Hopefully, everyone caught some pips!

Short trade entered:

Lot 1: +20 pips

Lot 2: +47 pips

Total: +67 pips

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About Pipcrawler

Every day, I try to find what I believe is the best looking short term currency trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology behind price movements in the foreign exchange markets, so you can learn to analyze your own currency charts and trade on your very own. To help you understand my trading approach, please read about my trading framework.