500 points taken. More on the way ….

A fabulous 24 hours.  We’ve booked over 500 points on the long-running GBP/AUD trade.  Closed out this morning as we hit the predicted support microswarm (see yesterdays blog). 

Now here’s the thing.  As we speak I am already 200+ points ahead because we actually got to re-sell the market on the touch of the swarm when it rallied!!  Absolutely gorgeous trade yesterday and with 200 points locked in already today we are on target for a massive week.

Basically, the numbers work.  here is our closed out trade sheet, and for clarity, the chart showing the “re-sell” of GBP.  I only wish I hadn’t missed out on the 100 point bounce.  But I did.  And that’s life.  Circled in blue – my daily support (why I took profits) and my major resistance number (edge of the swarm, marked in blue). 

PLUS our downside support is highlighted in 2 regions in yellow.  I would be surprised to see much below these two levels for a while, but let us see.  In a month where we expect GBP to rally, so far it hasn’t been major.  Last time it did this we saw an 8% drop over a few weeks.