No BUY/HOLD and/or SELL recommendations!
GBP/USD – the currency pair had limitation to its upward cycle in the face of Bearish trend bias.
The pair opened the Asian session at 1.6382, climbed to 1.6400 and, while I'm about to post the pair is retreating from this level, forcing price back toward its open. However, the pair is rebounding once again and currently trades at 1.6398, just a few pips above its opening price at the Asian market.
Quoting the pair below 1.6430 had the Bearish pressure increased. Our Daily trade based on my PIPD-SIGNAL is over +80 PIPS and was time to trail the Stop/Loss:
- First to a break even.
- Now further move the Stop/Loss to about 25 to 30 percent of the profit. Basically securing 24 to 25 PIP profit.
While many traders running the GBP/USD SHORT closed the trade with a loss being afraid for the GBP/USD to resume its upward cycle, we followed my PIPD-SIGNAL and remained in the trade SHORT. So sticking to a trading plan and/or signal plays a major role in trading strategies.
The chart along with its opened position was uploaded to the files section of another Yahoo board. Although, the 4HR chart was giving signals too so I opened a position earlier I want to intercept larger cycles such at the 1440 minutes/Daily.
We are up over +80 pips.
Regards,
"THE PIP DISPENSER"
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