Hi, Sneaky, unexpected USA Fed increase on their discount rate last night. As a result the Gbp has tanked this morning which is great for those of us who shorted the GBp/$ at 1.5800 as per Sundays analysis form theWEEKLY charts. That trade is currently +430 pips!!
We have been enjoying some quite brilliant results from these weekly moves so far this year and they do not have massive stops as novice traders believe
I also explained in the same post how there were lots of flag patterns forming on the 4 hour charts that suggested for example with the same Gbp/$ that the break out move down would be over 350 pips - we have had 280 so far! So lots of technical success of late
Check out the blog post for today & also drop by the relaunched forum. Lots of experienced traders test driving various forex robots including a few brave souls who shelled out $999 on the forex robot world cup! Find out if it really is any good. The guys are posting their results. Results which so far are not great!
Regards, marc
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