Trade Review: GBP/USD

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

Partner Center Find a Broker

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

This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.

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 to 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.