A Winner!
I love it when a plan comes together! I got my 30 pips after my buy order got filled; from the looks of things I could have ridden the Sterling higher to R1, near 1.8476, another 40 pips. I'm not complaining, though, as I did get something for the trouble.
The Cable was range-bound today between 1.8342 and the 1.8475 area. This is no doubt due to the major resistance to be found at 1.85, as double-zeros seem to make traders jumpy. Judging from the info to be found at 4Cast and FXCM, this area will continue to mark a consolidation point in the meteoric rise of the Cable. And given that price today obeyed the 1.8476 level, I will be buying tomorrow and selling near the 1.8475 area. Hopefully my order will be filled and closed before the Bank of England renders their interest decision tomorrow around 7 AM EST.
I'm buying at today's pivot point at 1.8413. I'll take profit at 1.8443 and stop the loss at 1.8483.
After 1 trade today,
+30 pips.
The Cable was range-bound today between 1.8342 and the 1.8475 area. This is no doubt due to the major resistance to be found at 1.85, as double-zeros seem to make traders jumpy. Judging from the info to be found at 4Cast and FXCM, this area will continue to mark a consolidation point in the meteoric rise of the Cable. And given that price today obeyed the 1.8476 level, I will be buying tomorrow and selling near the 1.8475 area. Hopefully my order will be filled and closed before the Bank of England renders their interest decision tomorrow around 7 AM EST.
I'm buying at today's pivot point at 1.8413. I'll take profit at 1.8443 and stop the loss at 1.8483.
After 1 trade today,
+30 pips.
posted by Young Pip at 8:47 PM
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