Tag Archives: GBP

Paper trade: Short GBP/USD 50% @ 1.634, Out 1.645 (-110 pips)

By Paul | Published: October 21, 2009
Well, that descending trendline didn’t last long for GBP/USD.  I shorted it when it was testing it and saw that the RSI was at a prior high too (Fig. 1).  I placed my order just below the short-term ascending support to hope for a break to the downside, see Fig. 2.  GBP/USD consolidated around that [...]
Posted in Major Pairs | Also tagged entry, exit, paper trade, USD | Leave a comment

Missed opportunity review: GBP/JPY spiked 500 pips in 24 hours

By Paul | Published: October 15, 2009
It looks as though my analysis for GBP/JPY making a reversal was correct.  However, my short term entry needed to be improved for me to profit on my intermediate term analysis.  In particular, I should have looked at a major short term resistance line instead of an arbitrary weak resisitance line as I did when [...]
Posted in European Crosses, Self Assessment, Trading Signal | Also tagged hindsight, JPY | Leave a comment

Paper trade: Stopped out GBP/JPY @ 141.70 (-116.10 pips)

By Paul | Published: October 12, 2009
Just got back from a long weekend and found that my GBP/JPY long is stopped out for a loss of -$40.63.  It looks like the resistance is holding up from the looks of Figure 1.  This setup is toasted for now.  GBP/JPY 140.00 – 143.00 is the range for the time being.  However, I still [...]
Posted in European Crosses | Also tagged exit, JPY, long, paper trade | Leave a comment

Paper trade: 50% long GBP/JPY in @ 142.861, stop 141.16

By Paul | Published: October 9, 2009
The strength in my EUR/JPY long gave me confidence in entering this GBP/JPY long trade.  I entered on market at 142.861 last night with a 50% position size.  The 141.00 support seems to be holding so far, see Fig. 1.  Also the RSI have been way oversold (best in my basket of pairs) and it [...]
Posted in European Crosses | Also tagged entry, JPY, long, paper trade | Leave a comment