$100 Forex Experiment

Posted on Fr 27 April 2007 in Forex • 1 min read

Good Morning. Yesterday's currency sell-off triggered several of my buy orders as the EURUSD and GBPUSD pairs dropped through support after support.  The end result was that I started to pyramid losses. However, I stuck to my trading plan and planned for a long wild ride. In case any new readers are wondering, I will (re)post my trading plan on this blog later today.

Finally, overnight the pairs started to firm up and now my GBPUSD pair is showing a nice profit as it heads back to the magic $2.00 level. The same with my EURUSD position but it's still underwater at bit. I have confidence that both pairs will climb back to their highs because the my nerual trend models continue to show a strong Euro and Pound relative to the dollar. In other words the Euro and Pound's trend remains up. In fact the signal coming from the Pound is a "STRONG UP!"

GBPUSD-042707

Don't forget to enter my contest, you have a shot at winning $100!