Jul 07

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Wednesday 7th July 2010 : 2 trades ended up with +40 pips on Cable

It’s been a story of wait wait wait this week. Sometimes you get off work early and sometimes you have to do nearly a full shift.

This morning I went short on EURUSD, a lovely little pattern and the other pairs also looked like shorting. As EURUSD had the clearer pivots to hang my hat and coat on I took that trade. It sat there for nearly 2 hours and jumped about….I took it off for BreakEven at 10:50 and that was  a great call as the pair moved steadily north not long after.

Cable showed better traction in a bullish mood and I took a long position at 14:33 @ 1.5165 risking 20 pips. My targets were then at 1.5185 for 2/3rds and 1.5205 for the final third. Target 2 was hit on the hour, so time to wrap up for the day! Copy of trade is shown below.

+40 pips GBPUSD_070710

Off to London tomorrow, might get a chance to get a few hours in before I leave and horse racing at Newmarket on Friday, again might be able to slip a few hours in before the off. Or I just might take the 2 days off – it’s summer after all!!

Happy Trading


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Permanent link to this article: http://intradayforextrading.co.uk/2010/07/07/wednesday-7th-july-2010-2-trades-ended-up-with-40-pips-on-cable/

1 comment

  1. Peter

    Well done James! These are very good trades. Believe it or not, but I still read your posts every now and then. I am currently short on GBPAUD, Long EURUSD, short EURCAD and short GBPCAD.

    We should go for that coffee at some point.

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