Sunday, February 28, 2010
I Exited the Rest of my Short GBP/USD Trade
The GBP/USD gapped down big this afternoon and those gaps usually get filled within a few days, if not hours, and seeing as that we have a nice proportioned 5 wave decline possibly complete, and a nice profit at the moment I'd like to close the position.
I closed the first have of the position at a 175 pip profit, and since my entry was at 1.5390 and my exit was at 1.5141, that makes a 249 pip profit on the second half of the position I just closed. Click here for the original trade setup.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.