Friday 21 December 2007

European Session +17 pips

Closed short GBP/USD at 1.9845 for +17 pips

Adhering to the trading plan, the signal software gave us 1 entry this morning. I exited the position for a profit soon after the release of GBP retail sales report, which was actually better than the forecast. If you follow my blog closely, you will know that I don't like to trade against the news.

Update: As expected, the price indeed moved higher (currently stands at 1.9875) although it was initally stalled after the news. My short entry was at 1.9862.

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