GBP/USD - Simple is Better
Posted on July 26, 2007 at 15:59 in Trade Idea Result by Rob BookerNo Comments »

Our support and resistance trade on the pair worked out nicely. 

Gbpusd_july262007

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EUR/GBP - 4 Hour Channel Breakout FFWL Alert
Posted on July 26, 2007 at 15:53 in Trade Idea Result by Rob BookerNo Comments »

We didn’t talk specifically about selling this pair below the bottom of the channel (apologies), but like the other ones, this would have worked out nicely.  Just wanted to show you how the Winnipeg lines do a nice job of stopping things on the breakout.  By now, if you look at the other posts today, you’ll know more about how you can handle a move like this.

Eurgbp_july262007

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EUR/GBP - 4 Hour Channel Happiness
Posted on July 20, 2007 at 15:56 in Trade Idea Result by Rob BookerNo Comments »

The EUR/GBP, which we talked about yesterday, has stayed nicely inside the confines of its upward rising channel.  Some of these slowly rising channels are my favorite.  In any case, we’ve already talked about the fact that we can draw a trendline on the inside of the channel and buy a close above that line.

In the past we’ve also looked at the possibility of buying a pair when it hits the bottom of an upward channel.  That was a possibility for us here as well.  It hit the bottom of the channel at approximately .6717, and it has gone about 11 pips higher so far.

Keep in mind that the EUR/GBP is worth about twice as much per pip as the EURUSD or the GBPUSD.  That’s because the GBP is the base currency.  So 11 pips in the EUR/GBP is worth about $22 on a standard lot.  It’s like making double the pips: hence the Chuck & Larry chart below.

Eurgbp_july202007

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