Cool, I hope you earn many pips.Originally Posted by ;
Thank you. I wish lots of pips to you too . How long have you been trading for?Originally Posted by ;
I had a pending order which did not excute on EUR/USD.
My GBP/JPY long trade made a profit barely worth mentioning, lol.
Anyhow, I'm hoping tomorrow could be a better day.
GBP/USD
1 hour chart is showing a possible change into a bull market, but think that it could be a fake out, should soon find out after this morning. The long term trend is still downward.
EUR/USD
I won't be trading this for a while, I am testing something new in my trading pair - Cable.
GBP/USD
Short @ 1.4773
Stop Loss @ 1.4810
Take Profit @ 1.46840
Profit/Loss = -#2.77
I feel the forthcoming week should produce lots of chances in the Currency Market market, and other global markets as a consequence of the events taking place.
Firstly, on Monday in the UK we ought to have a wider picture on how the housing market was dealing in December together with all the Rightmove House Price Index in 12:01 UK time.
Second, on Tuesday that the inauguration of President-elect Barack Obama has to bring a greater demand for its U.S Dollar and produce gains in the markets as millions will embark on Washington, D.C from across America and the rest of the world.
Thirdly, MPC Member Paul Tucker will testify upon his appointment to the BoE Policy Committee. Afterwards on Tuesday Timothy Geithner will testify upon his appointment as a portion of President-elect Obama's team.
Fourthly, GBP Retail Sales for December will reveal how intense the economic recession has effected high-street retailers and also give us an idea of consumer confidence.
Thanks for reading,
Forex Rookie.
GBP/USD
Long @ 1.48500
Quit Loss @ 1.4810
Take Profit @ 1.4950
Profit/Loss = -40 pips
GBP/USD
Short @ 1.4664
Stop Decline @ 1.4694
Take Profit @ 1.4544
Profit/Loss = 120 pips
No transactions made now because I woke up late! And missed the great Short opportunity on Cable.
It seems like the 1 hour chart is just ranging at the moment and I assume it will keep doing so. A retracement is overdue to happen also, baring in mind Cable has dropped some 500 pips in the last 48 hours.