Site Meter The Lawyer Trader: The Pound Keeps Rockin'

Tuesday, June 2, 2009

The Pound Keeps Rockin'

One of the best currency trades i've had in a while (it's up over 500 pips) is a long Gpb/Usd trade and it's starting to get within reach of my profit target. Here's an houly chart:I've been in and out of the pound over the last several months and on this trade I just waited for a little pullback with some consolidation on the hourly chart and I hopped on board. The pound has the potential to blow way past my profit target but I'm gonna stick with my plan for this trade and book profits at the target and then if the pound is still showing strength, I'll wait for another pullback to re-enter.

Good luck out there.

TLT

2 comments:

Abel said...

Ouh boy,

I hope you don´t screw my shorting setup with that usd cross ;)

http://just-charts.blogspot.com/

George said...

As of now, your short seems okay...we'll see though.