Tradex Forex Journal

London traders are hitting the pubs right now, no wonder the pound is not moving.

 

Dude trades Swiss when he's wanting CAD exposure. lol how far ET has fallen. Then he googles triangular arbitrage and the first link is the book he referenced.

 

I put him on Ignore mode a while ago but still gave him a chance to redeem himself a few weeks later.

But no, once a jerk always a jerk.

Alright, he leaves me no choice this time.

 

Chart pattern wise, GBP/USD is currently printing some type of complex Head and Shoulders formation, on the 5-min chart.

So is a breakout to the downside imminent?

Let's find out...

 

GBP/USD now trying to break the intraday low (from midnight New York time).

Come on boy, you can do it.

 

Out GBP/USD at same price, trade is going nowhere and the freaking EUR/USD is lifting the pound up.

Oh well, still a profitable day, so far, despite the lousy price action.

 

This baby did break to the upside yesterday.

Anyway.

 

Long GBP/USD at 1.3950, 26 pip stop.

It better be good this time you little weasel.

 

Trying to scare me with phony down moves, eh?

 

Position closed at 1.3943, 7 pip loss.