Thursday, February 2, 2012

EUR/GBP

EUR/GBP is testing resistance at about 0.83300, think it will break? If so, think it will continue on an upward move or be only a slight break then head back down?

EDIT: Entered EUR/GBP @ 0.83284 on a short, S/L @ 0.83332, T/P @ 0.83111

Play is a reversal off of resistance with low risk since I'm trading against momentum. I will be likely jumping out at about 0.8320 (trailing stop), but I'm giving it the chance to break though it to my T/P.

EDIT #2:
I exited EUR/GPB @ 0.83226 for +5.7 pips.

As always, chart and summary will come at the end of the day.

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