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Friday, May 30, 2014

Fri May 30th

GBPUSD 30m grinded upwards all day. I jumped on a pb for any further push up to frustrate short sellers. 5m entry was a cpbt on upwards MAs. P1 exited easily for +4 and I was going to let P2 run, but decided to take it as a +8 tgt. It turned out to be right at the day's high, a lucky exit, but then again was taken ahead of 56 because of the presence of sellers there prior to LDN Open.

EURJPY 30m was also a 30m pb buy as was the reasoning for 5m entry. Again P1 exited easily and I tried to trail P2 or sell it at the DT highs, but all it did was wedge forcing me to trail out P2 at +5. 1m shows how it chopped for an hour before breaking to the upside. That was expected, but the chop didn't enable me to stay with the trade.


Summary: 2W for +10.5.

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