:: Cable (GBPUSD) Trend Trading ::

240 pips on 5 lots including 1 lot remaining which will hit the raised SL. I call it a 48 pip trade - pips divided by lots. See you in 12 hours. 1 old long still O/S and limit orders in place for my night.

Most of my entries are limit orders which are exercised some hours after I post. Some may choose to follow me and that's fine because with this type of entry it's easy to do so. If you do, that's fine. But only use a demo. These are not tips, alerts, signals, suggestions or anything else other than entries in my trading journal.

I've got off to a satisfactory start but losses will come. You can rest assured. It remains to be seen if I'll be profitable by the cut off date. If I am, then it may have helped a few. If not, then you can all suggest where I went wrong. What I'm doing here is pretty simple stuff - even for someone new.

I'm out for a few large Cognacs now. TTFN.

The last lot of 5 did hit SL for 32 pips. The limits weren't opened but they remain in place. The old long now at 17 pips.

The UK GDP comes out for the 1st quarter of 2007 today, and this is a big boy, and definitely important. This is the very first estimate of the GDP, and tends to give the biggest moves. It's expected to come out at 0.6%. If it comes out at 1.0% or more, it would be the biggest GDP reading since 2003, and GBP/USD may go up by 80 pips or more in the first hour of the report. If it comes out at 0.3% or lower, it would be the lowest reading since 2001, and GBP/USD may go down by 80 pips or more in the first hour of the report. Expect a smaller move.

US Core Durable Goods for the US. This indicator is not so good. Most of the time, it can move the GBP/USD by 30 pips if you are lucky, and if the deviation is big enough. Market sentiment and price levels before this report will make a big difference. It's expected to come out at 1.1%. If it comes out at 3.0% or higher, it would be a very strong reading, and GBP/USD may go down by 30 pips or more in the first 30 minutes of the report. If it comes out at -1.0% or more negative, it would be the third negative reading in a row, and probably be bad for US dollar short term, so GBP/USD may go up by 30 pips or more in the first 30 minutes of the report.

Then New Home Sales for the US. It's expected to read stronger than last month, and to come out at 890K. If it comes out at 1200K or higher, it would be the highest reading since end of 2005, and GBP/USD may go down by 50 pips or more in the first hour of the report. If it comes out at 690K or lower, it would be a very shocking drop, and GBP/USD may go up by 50 pips or more in the first hour of the report. We'll see.

A UK clearer is sitting on the offer in cable at the moment. They are capping any move higher for now.

http://www.tradingcentral.com/chart/...0425074819.GIF

Missed short limit by 2 pips at 2.0063 to open. Old long now at 40 pips. No more limits for today with news in an hour. I trust Sell Limit 2.0063 for 5 short will open soon.

Last: 2.0043
Pivot: 2.0065
1st sup. 2.0009
2nd sup. 1.9996
3rd sup. 1.9957
1st res. 2.0065
2nd res. 2.0093
3rd res. 2.01
http://www.tradingcentral.com/chart/...0425120251.GIF

For the last 30 minutes. FA in 2 minutes.

The 30-min RSI has broken below a key rising trend line.

Thank you my dear friend..I just followed ur signal..it worked superbly..

Keep it up brother!

Sell Limit 2.0056 SL 2.0093 TP 1.9994 Last 2.0019. 5 lots as always. I'll stop saying this soon - it's always 5 lots long or short.

Buy Limit 1.9996 SL 1.9955 TP 2.0100 Last 2.0023. 5 lots as always.
Other limit orders remain in place.

I'm honoured that you chose first to post here. Hyipgrace, great to have you here.

http://www.tradingcentral.com/chart/...0425134813.GIF

About 20 pips?

yep, but i'm holding it..

I'd hold as well. Exit about 2 or maybe a touch lower, perhaps?

Can u tell me ur Yahoo ID or MSN

or else please add me MSN: [email protected]

4 limits in place - 2 short, 2 long. I'll drop by just before my bed time in 8 hours for the daily summary. No pips for me today but at least I helped 1 person make a few.

Help others get ahead. You will always stand taller with someone else on your shoulders. That makes it a good day regardless of profit. I trust it was a demo.

The Why is important though. Hopefully, I've documented that well enough. Ladies and Gentlemen, have a great day or night, wherever you are.

I'll catch you in 24 hours.

Hi Guru,

Keep it going, i hope you won't limit this journal to just a timeline or when cable hit certain level. Your effort in documenting your thoughts and trading style is greatly appreciated.