EUR/GBP Trade – Update

Posted on 13. Jul, 2010 by in Forex Signals, How To, Random Noise

Yesterday I send out an email to all my subscribers about a short trade on EUR/GBP. I entered right at 0.8370 going short with a stop loss of 100 pips, an open profit target and risking 2% on the trade. After some 30 pips of profit I another email recommending people to take partial profit (if possible) and move the remaining of the position to break even. Shortly after the pair turned on us and went back up slightly above our breakeven level. Although this trade gave potential for profit, it was not optimal considering an initial stop loss of 100 pips and taking partial profits at some 30 pips. However, at that point I didn’t want to see the pair back above our entry level, hence I preferred to be on the safe side. However, I have a mental profit target somewhere near 0.8014 and I have re-entered the trade when we broke the last consolidation area just a few pips above our last entry, and I still think it has a lot of potential even with an entry now around 0.8338. Anyhow, I hope you guys got a good trade from it. If you want to get my signals, simply sign up for my newsletter.

Related posts:

  1. Recap of Yesterday’s EUR/USD Trade
  2. GBP/JPY and EUR/USD Update
  3. Forex Signal # 1 – Update
  4. Trade update: LMT Forex Formula
  5. Forex Signal # 1 – Trade Setup EUR/USD

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3 Responses to “EUR/GBP Trade – Update”

  1. EUR/GBP Trade – Update | Forex Investing says:
    July 13, 2010 at 19:42
    [...] EUR/GBP Trade – Update Yesterday I send out an email to all my subscribers about a short trade on EUR/GBP. I entered right at 0.8370 going short with a stop loss of 100 pips, an open. View full post on EUR/GBP – Google Blog Search [...]
    COMMENT  
  2. Tweets that mention EUR/GBP Trade – Update -- Topsy.com says:
    July 13, 2010 at 21:17
    [...] This post was mentioned on Twitter by Auto FX . Auto FX said: EUR/GBP Trade – Update: Yesterday I send out an email to all my subscribers about a short trade on EUR/GBP. I ente… http://bit.ly/91fHN5 [...]
    COMMENT  
  3. stopcrisisnet says:
    July 14, 2010 at 03:43
    I want to quote your post in my blog. It can?
    And you et an account on Twitter?
    COMMENT  

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