Gbp/usd - 5/7/11 - long trade - 9:00am

EricReed

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GBP/USD

08:59AM

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LOOKING FOR A RETEST OF S1 LEVEL, FROM S2 POSITION.

STOP IS PREVIOUS LOW, TARGET IS S1 LEVEL.


I WILL KEEP YOU UPDATES
 
you hoping for a good services pmi print then unless you are out of the trade before london 0930? A bad no. toward the 50 mark could see knee-jerk (+) pressure on £.

I took the same trade on the 1min trigger with 3min and 5min supporting bullish divergence based set-ups at the previous 1hr/4hr swing lo zone..flat now though.

G/L
 

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I hit the 30 point profit target!

yeh the 53.9 print on Uk pmi services was above forecast/last month's 53.6 and against the run of play on previous construction and manufacturing pmi's earlier ..also against the recent downward prints on these numbers...a relief rally followed building on the pre-data pullback off 5989...couple of decent chances to get with that rally on the sub 5min t/f's...nice going !! well done...
 
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