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This Morning’s Long Suffering Trade - GBP/USD
By Benny Nardino | May 23, 2006
It’s one of those mornings. I am finally out of the long suffering trade - a position I took this morning on the cable. I was hoping that there would a 1.8800 violation today. Though it did touch up on it there wasn’t enough momentum to push through. I was glad to be away from the screen when it did and that meant I never get to pull the trigger as indivated in my earlier post.
However, I did close my position @1.8830 when it seamed a retracement back with +12 pips. Whatever the case it, it still ended up with gains. See the M1 and M5 analyses respectively.
Obviously not the best of trading days but I am still glad to be up by 44pips. I may well relax and do other things from trading for the rest of the day.
Let’s hope and see the if the US opening hour will fare better in a few hours.
Happy Trading
Benny
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