Last week on April 30th, I exited my long-term GBP/USD @ 1.9772. I could have exited better, but oh well. During the latter half of April, the lack of movement short on the GBP/USD began making me a bit nervous. I actually exited on a short-term, not long-term exit signal. I wanted to exit and capture profit before it went against me further during the short-term. You’ll notice that when I exited, the GBP/USD went all of the way up to 1.9900. I could have entered short again there at 1.9900, but I have been a little apprehensive about the GBP/USD movement lately. Therefore, my long-term short trade ended out to be the following:

March 6th: entered short trade @ 2.0131

April 30th: exited short trade @1.9772

These longer-term trades usually provide better pippage than this, but at least I don’t have to check this trade every hour/day like shorter-term trades. In the meantime, I’ll be looking for the next entrance.

I want to be sure and make very clear that my system has not issued a long-term reversal signal yet. Therefore, in regard to the long-term, my system still shows the GBP/USD to be in a long-term downtrend. In regard to today, May 6th, my system shows the GBP/USD to be in a Daily downtrend, 4hr downtrend, 1hr downtrend, and 15min downtrend. But again, due to the sideways movement over the past few weeks, I have gotten out for now.