You Are The Worst dot Com

If you have been reading my blog posts for the past 2 weeks or so I have been big on the EUR/GBP pair on the Daily charts especially due to its strong appreciating trend that started in September, which coincided with the sub prime fiasco in the U.S. and in turn spilling over to the U.K. With the interest rate decisions out of the way and with BOE and the ECB having differencing goals at this moment, the EUR remains the stronger of the two. BOE cut rates and will remain in an strong retracting phase mimicing the U.S. counterparts whereas ECB kept rates unchanged and is primarily concerned in battling inflation however rate cuts may be in the intermediate horizon.

I have also decided to play around with my entry strategy and to take trades earlier especially in the dynamic area of support between the 30 and 50 SMA as the pattern suggests a breakout to the upside out of the flag formation. Prices has already bounced off the support area three times within the prior 5 months and if history repeats itself, the pair will continue to appreciate.

•Up +70 Pips on EUR/GBP, Trade Taken on GBP/NZD

•+50 Profit on EUR/GBP and Break-Even on GBP/NZD.

•The Carry Trade: How it Works and How You Can Profit From It

•Goodbye imminent for E-Trade?

•GBP-JPY 4 HR Trade Results -> 324 pips