Originally Posted by itme
Wednesday 6/28/2006 18:15 ET
Buy opportunity on GBP/USD impending at 1.8165 - 1.8172
Quote from above: "Regarding GBP/USD, it fell much more than we expected, which was to 1.8217, but all the way to 1.8145, which is 72 pips further than expected.
We now expect GBP/USD to rise to between 1.8270 and 1.8310 before it reverses again and plummets with speed to the depths."
GBP/USD just fell as expected to about 1.8172, which presents a low risk / medium reward opportunity with a target of between 1.8270 and 1.8310.
Stop is about 1.8159, so the risk is abut 20 pips, with a possible gain of as much as 160 pips.
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If one had taken the above trade, one would have lost 20 pips. If one had entered a long position after the GBP/USD descended to 1.8090, as we did, then one would have watched it rise to 1.8296 (so far). That is a profit of over 200 pips.
Also, we shorted GBP/USD at 1.8286, and expect a considerable retracement over the coming hours.
Wednesday 6/28/2006 18:15 ET
Buy opportunity on GBP/USD impending at 1.8165 - 1.8172
Quote from above: "Regarding GBP/USD, it fell much more than we expected, which was to 1.8217, but all the way to 1.8145, which is 72 pips further than expected.
We now expect GBP/USD to rise to between 1.8270 and 1.8310 before it reverses again and plummets with speed to the depths."
GBP/USD just fell as expected to about 1.8172, which presents a low risk / medium reward opportunity with a target of between 1.8270 and 1.8310.
Stop is about 1.8159, so the risk is abut 20 pips, with a possible gain of as much as 160 pips.
_________________________________
If one had taken the above trade, one would have lost 20 pips. If one had entered a long position after the GBP/USD descended to 1.8090, as we did, then one would have watched it rise to 1.8296 (so far). That is a profit of over 200 pips.
Also, we shorted GBP/USD at 1.8286, and expect a considerable retracement over the coming hours.