Thursday, May 14, 2009

May Trade # 6 - BUY GBP/USD

4:00 pm (Manila)

After wandering aimlessly for the last three hours, I've had enough of this pair. Took this pair out with meager gain of +7 pips/lot for a total of +14 pips.

I will look to re-enter the trade tonight when the US PPI and UNemployment data come out.

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1:15 pm (Manila)

I am in a trade. Later tonight, a slew of US economic data are due to come out. I expect PPI and Unemployment claims to come out better than expected. With this, I expect risk appetite to grip the market and investors to make a run away from the dollar.

Trade details:

BUY GBP/USD @ 1.5144
STOP - 1.5100
Limit 1 - 1.5174
Limit 2 - 1.5204

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