Monday, March 28, 2011

GBPUSD - Trade Potential

GBPUSD H1 - Trade Opportunity


GBPUSD is making new lows, breaking below the 100% retracement of the BLUE trend origin and the 61.8% retracement of the GREEN origin.

Enter at 1.5950
Stop loss at 1.5980
Final target at 1.5890

Partial profits can be taken along the way, don't forget to move the stoploss as the trade progresses into profit.

UPDATE: This was the very first trade to close since starting the blog, and unfortunately it was for a 32 pip loss.  Trade closed at SL:

GBPUSD - Trade Closed for 32 pip loss

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