Exit Current Trade

February 28, 2012 Leave a comment

Two weeks ago, I recommended a short on the GBP/USD here. You should currently be positive around 15 PIPs. As of this writing, I don’t have clear signals whether the GBP/USD will continue upward short-term or continue its longer-term downtrend. Therefore, I recommend protecting your trade and potentially exiting.

The current upward short-term movement may be turning into a reversal of the current longer-term down trend. I will keep everyone posted.

Happy trading!
LattePIPs

Filed under GBP/USD, Trade Recommendations

GBP/USD Reversal Over – Re-enter Short

February 14, 2012 1 Comment

Back in December, I posted here that the GBP/USD was beginning a reversal toward 1.6300. I hope you were able to enter at a strategic position before the reversal. My picture showed the GBP/USD moving down to the 1.5400 level before the reversal; however, the GBP/USD made a new low at 1.5236 before beginning the reversal. If you did enter at 1.5400, then you are currently positive around 330 PIPs as of this post.

It appears that the current reversal is over, has stalled out at the 1.5900 level, and that the GBP/USD will resume its downward trend. Look for a Limit sell around 1.5850.

Happy trading!
LattePIPs

Filed under GBP/USD, Trade Recommendations

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