Monday, February 13, 2012

Sell Setup GBPUSD H4

The pair bounces off a falling trendline and 25 EMA on H4 or 100 hour EMA. Shorted it at 1.58033 targeting Friday's low.

Monday, February 06, 2012

Cleared All GBPUSD Short

Today the pair made a new low. My total p/l for cable turned positive and I decided to close them all.

To summarize, my initial entry position floated for 5 days. Max draw was 220p. I got 8 other entries along the way to keep up with the drawdown. And my MM was sound enough. Apparently.

What's next? Well, my initial target is still 130p away actually. And I think cable still weakening. So I might short it again later.

Friday, February 03, 2012

Cable: Sign of Revesal

The pair broke the rising trendline as the market responded the NFP data. My initial target around 1.5550 remain unchanged for now.

Review of initial entry
Looking back a few days, the pair went against me. I managed to gain some pips yesterday and have minimize my exposure.

At the moment I still hold my initial short position and I added another short. I'm hoping that it will reach my target next week if not tonight.