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GBP.USD
One of my systems has triggered a
possible long on the Gbp.Usd
I would prefer to see dual confirmation,
however there is often a decent day trade
available from this signal.
Please note. My intention is not to offer any form of investment or trading advice whatsoever. The system I have detailed above could easily fail miserably at any point. If you choose to follow this system be aware that you do so entirely at your own risk and that I cannot be held responsible for any losses incurred.
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Update.
Nice rise already on this one so far since open and has
been up as high as 1.8273 from open @ 1.8164
In these situations IMO its always good to take 100 points
profit on 50% of the position and let the balance ride
with a trailing stop.
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Update.
Continued upward movement on this one so far since
position opened and has been as high as 1.8498
from start @ 1.8164.
Current profit to yesterdays close + 311 pips.
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Quite a fall overnight on this pair, and that is why IMO
its always wise to take some profits along the way.
This means if the stop is at entry and gets hit,
at least 100 pips profit is guaranteed and already
safely in the account.
Technically today one system on the daily has triggered a short,
and the weekly is already short. In this case for safety we could decide to close the balance 50% long now and take an extra 80 points.
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It was sensible to grab the extra 80 pips and
follow the signal to go short.
(Total 180 pips taken from the long).
Quite a fall overnight again on this pair, with
an extra 100 pips taken out of the 255 pip range
on 50% of position.
Balance 50% on trailing stop.
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Balance stopped out at breakeven.
Total 100 pips.
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Currently testing the change in H&S neckline polarity, and if this resistance holds firm we could soon see the continuation of leg 5 down IMO.
http://img.villagephotos.com/p/2002-10/63527/HS.gif
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If image in last post is blank try accessing
from this link.
http://www.reefcap.com/ubb/uploads/H&S.gif
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