Trade the GBP

Well what a nice week I have closed my trade on the GBPUSD for a nice profit.  It is amazing how the Floor pivots work on a H1 chart.  It clearly shows the crowd and herd behavior of traders.  If you as a trader intrepid it correctly then you can determine the correct entry and exit levels, the chart actually display the major support and resistance levels and that is all you need the rest is just trading discipline and patience.  The trade that I was in was a short with entry at the M3 and the exit at the WPRL.

I did a swing trade by putting in a buy limit at the M2 with a TP at the WPP.  That means that when my short position was closed I immediately put in a new limit buy at the M2.  I also have a double open order at the WS1.

Slow Week

Well been very busy lately so I have not done much blogging.  Did very well last week on the GBPUSD and the EURJPY.  The verdic is still out on the EURGBP will see what that will be doing in the near future.

I am currently short of the GBP and the trade is going slowly.  Tomorrow is a public holiday in the USA, Thanksgiving or something like that, don't know what that is all about, but the USA markets are closed so that might work in my favour.  I went short at the M3 with a limit sell open at the R1 and a TP at the WPRL, that will give me approximately about 132 pips for this trade alone.  Nice going for a slow trading week

Trading the EURJPY

Closed my trade on the GBPUSD for a nice profit.  Should have stayed in longer and stick to the plan but money in the bank is good.  Currently long on the EURJPY and is up a bit, will wait and see how this trade develops.