Missed Trade: GBPUSD Previous High

Published on Tuesday July 6th, 2010 at 07:34PM by keicadelina

Check out GBPUSD's bounce from the previous day high! That would've been a nice day trade. The problem was, the pair's rally was so strong lately that it seemed that the pair would bust through 1.5200. Besides, dollar weakness is the current theme and I didn't want to go against the grain.

  • 4 comments
  • Go to IamXavi's profile

    On Tuesday July 6th, 2010 at 11:01PM by IamXavi

    that's my trade! but I'm breakeven now as I feel it too risky if it test 1.52 again.
  • Go to keicadelina's profile

    On Tuesday July 6th, 2010 at 11:04PM by keicadelina

    Wow, lucky you! Watch out for those double bottoms around 1.5100 though. The broken neckline of that formation could act as support and push the pair higher. Good luck on your trade!
  • Go to IamXavi's profile

    On Wednesday July 7th, 2010 at 01:03PM by IamXavi

    Thanks Kei, I was aware of the risk, too bad it went up as I made breakeven!
  • Go to UKpipnit's profile

    On Wednesday July 7th, 2010 at 04:28PM by UKpipnit

    Hey Kei. The bounce I was waiting for was of Res at 1.5225 not 1.5275 (Typo, I have fat fingers lol).I'm short again from here tonight. Can't C retrace down to 1.5050 fib anymore though, so will be happy with a few pips. As far as 1.5225 goes, I can't C that being broken until Friday but I will be long if it does. Good Look!

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