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Trade Alert Review: GBP/USD sent on Jan 2, 2012 8:13pm (Profit)

This alert was sent with the information below:

Happy New Year.

This is a trade alert for GBP/USD. To find out the reason for this trade, please go to http://chartingacademy.com to find out why.

Entry: Above 1.5500 but below 1.5570 (note: the higher you enter, the further your cut loss)
Stop loss: Cut if it closed below 1.5361
Profit: Set trailing stop once in profit.

Note: GBP/USD already moved on Friday, which means the risk is higher for this trade.

Note that this is a high risk trade as you will be going against the trend and market is low volume due to holidays.

Disclaimer applies. This is an opinion, not an advisory services. Please consult your broker before you trade.

Now that the trade has completed, let’s review what happened.
Right after it hit the Entry Price at 1.5500, it went lower for about 4 hours but it did not hit cut loss level at 1.5361. Once it hit the Entry level the second time, a short time it consolidated and then climbed higher to as high as 1.5669 which is about 169 pips. Granted, no one can have the maximum profits, but if we half, that would be easily 80+ pips, which is quite reasonable, right?

I received some emails (less than the EUR/USD trade) but nonetheless, all of them took their profits already.

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