Yesterday produced a massive spike on the EUR/GBP with a huge bar to the upside in my favour and broke its previous high which also marks a new all-time high for the pair. Trade was relatively risk free as it moved sideways for a week then spiked up hard which netted me a profit of +50 pips. I may re-enter again to capitalize on the momentum of the pair upon a patented break-out pull-back continuation pattern on the Daily charts.

The other trade, GBP/NZD, which I was up +48 pips was stopped out at break-even as the pair simply is trading with a narrow range after breaking out of the downward triangle pattern.

Here is the chart for the EUR/GBP pair:

EUR-GBP Daily, Feb. 28, 2008

Another beautiful trade that I missed last night was on the GBP/CHF in which it broke out with ease of its sideways range to the downside. I guess you can’t get them all. :)

GBP-CHF, Feb. 28




Related Posts: