Prediction: GU is slowing this uptrend at 61% D1 fibo level…we have our resistances at 5960/65 and higher up at 5990/95 with supports at 5870 and lower at 5805/10….Scalp all levels…Results:
1. Short @ 5960, DD: 0 pips; MP: 100+ pips. This was our scalp level on which we took 30 pips as price quickly moved from this level when it was hit.
2. Long @ 5870, DD: 8 pips; MP: 25 pips. This was also a scalp level where price action was very stagnant and trade was closed for a 20 pip profit.
Overall Profit/Loss: +50
Pips this Month: +80
_http://www.mytradingweek.com/archives/2251 Overview of Predictions August 5
Prediction: GU is starting to turn at 61% D1 fibo (5968) so our outlook is more bearish now with today’s resistances at 5925/30 and higher up at 5955/60, supports are at 5865/70 and lower at 5810/15…Trend short (from resistances) and scalp long (from supports)… There is some rate cut news on GBP so try avoiding these times (look up news times at Forexfactory.com)
1. Long @ 5870, DD: 15 pips; MP: 0 pips. This scalp trade was quickly stopped out as market starting to move down for a -15 pip loss.
2. Short @ 5923, DD: 0 pips; MP: 100+ pips. This was our trend trade that was entered with an exception (4 pip exception for trend trades) and just missed our bottom support on which we should close this trade and then was closed at 2 pm EST for a 50 pip profit.
Overall Profit/Loss: +35
Pips this Month: +115