I saw a “peek” reversal in the Pound which I quite liked. It just churned and churned, so I ended up scratching it JUST BEFORE it ramped radically to breakout to a new high… Whew, my trading plan saves me once again!
I was on the phone this morning with a client in Singapore when a neat little pullback showed itself in the GBP/USD. We watched the trade together and I took it as part of my Cash Bomb Sequence. Here is the video!
How frustrating…A total whipsaw.
+$11 at the end of the day…Down $60 after adding commissions.
I came upstairs to my trading loft to find a clear double bottom in the GBP/USD. I grabbed long exposure as fast as I could, and then captured a quick “pop” as the market reacted to the bottoming pattern.
My quick scalp type gain was lucky, as soon after my exit the market tanked and retested the lows. Another winning trade taken ONLY because of the limited profit objectives. (Sacrificing the potential for a big gain in return for the high probability of a small one.)
