Hey Pips,
Your trade may still be good, although there is a slight T/C on the 1 HR. The GBP is at support from November bouncing a bit. If it comes up to 9244 it may still go, Not yet though, Any comments appreciated. Will check at 5 close of 4 hour
Jim
).Just took 18 pips on two lots each based on trend continuation from the 1 hr after starting to see it on the 4 hour... 1st time I've really confirmed off the 1 hr... I like it. 1 lot left to see if it would break down again.. probability is low, but hey... it's free at this point. S/l moved to take 10 pips still on last lost if reverses.
Entry 151.62
Edit: Also had very good trendline support and resistance to base off of.
I made this trade because this week I'm concentrating on trend continuationinstead of countertrend trades... they are a little bit harder for me to "see", but higher probability... as one of you so kindly pointed out... palmer? maybe? about phillips original trades.. 4 out of 5 of the losers were countertrends...
"Never go against the trend" (say in the raspy godfather voice)...
Hopfully I can catch these pairs on the way up too....
Donna, let me express my gratitude for your help you are rendering to new participants of this forum. I have a feeling they all thank you, too. Odd as it may seem we probably spend more time encouraging them, boys, he-he... Look, I went with the long usd/jpy trade against all the odds and the only encouragement was from you. We showed the spirit! Let's bask in the glory. And my piggy is giggling, too..
One more example and I have to take care of my daughter's homework. This is the current formation with usd/cad which I talked about this morning. The chart is 4HR and I've put a red line across the screen to show where the resistance is. If I would take a trade my SL will be 10 pips above the red line. Yours, Tamara.
