June Trade # 12 - BUY GBP/USD

June 9, 2009 8:18am (Manila)

2nd half is out at breakeven.

Summary for this trade:

1st half: + 60 pips
2nd half: 0 pips

Total: +60 pips

Great!! I will be looking to re-enter when opportunities arise.

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June 9,2009 8:00 am (Manila)

Limit 1 is hit at +30 pips/lot for a total of +60 pips. Moving stops of 2nd half to breakeven. Trade now risk-free.

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June 9, 2009 7:05 am (Manila)

BUY GBP/USD @ 1.6058
STOP - 1.5974
Limit 1 - 1.6088
Limit 2 - 1.6163

At 7:01am today, UK RICS House Price Balance came out beating expectations by wide margin. Increased House Prices contribute to inflation which is good for a currency.

On the technical side, see my commentary about opportunites today, June 9th.