My earlier post was an account of a loss from my initial trade this morning which took me out. That loss became a motivating factor to my scalping latter in the day.

However, I am glad to say that the day ended positively with the help of the uncertainty in the oil maket. Especially what is happening in Iran and Nigeria. The rise in oil price simmer through the forex markets that it presented me with the last trading opportunity.

As seen on the chart adjacent, I took the first trade @ 1.7609 and exited @ 1.7644 yielding +35 pips. The final trade was taken @1.7639 after a season of waiting. At one point I thought it would never happen again because the market seemed to be vassilating between the Fibonacci’s 38.2 and 50% channel. The patience paid off afterall. I exited the final trade @ 1.7672 making a further +33 pips.

The day has finally come to a close from with bright faces all round. What seemed a doom and gloom eventually ended with +48 pips increase. Let me know how you did today in your trades. What currency pairing etc..Even if you didn’t trade but have keen interest in it please share your thoughts.

Happy trading

Benny

Benny…
“A Mentor’s footprint is worth a thousand walk of trailblazing.
Seek the WISDOM of the fore-runners.”

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One Response to “GBP USD: Shaken But Not Scared”

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    January 25th, 2006 at 9:46

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