May Trade # 3 - BUY GBP/USD

1:06PM (Manila)

Closed-out this trade with +12 pips/lot for a total of +24 pips. The pair is encountering resistance at the 20-period MVA between the bollinger bands.

Not bad in my book, considering that I was going up against the trend for the day.


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12:30pm (Manila)

I know I said that I will wait for the UK PPI m/m at 4:30pm announcement before I enter to trade this pair. But Bollinger Bands, RSI, MACD and Slow Stochastics inidcated that this pair is about to zoom up after a deep dive this morning.

Hence, I am in this position;

BUY GBP/USD @ 1.5009
Stop - 1.4955
Limit 1 - 1.5029
Limit 2 - 105049