GBP/CAD: Long Entered @ 1.7928 - Stop Set at 1.7628
Ok well I waited and my prefered entry price has arrived. Although I have been knocked out of a few trades that to me is ok since I made quite a bit on several of them I can allocate some profits to some new entries. This GBP/CAD Pair is one of them. If you have been following along you saw me catch several thousand pips on two different up legs of this pair. 1800+ pips I have caught in the last two weeks or so. Not to bad. I was getting ready to short this pair and unfortunately I'm not a robot and I do need sleep so that opened a window for this pair's price to fall without me be able to catch the timing. I missed my short but that is how it goes in the forex. Since I missed my prefered short entry price I was forced to wait until a good long price cam along.
GBP has fallen and touched this price level before with CAD and has held. This may be a bit early to go long as the price may continue downward but thats ok for me since I have some profits to risk. I do not however risk deposit amounts. I only trade if I can risk profits and never risk my deposits because once you're out you're out right. So I took this long and have allocated some profits for my trade and lets see if it turns out to be profitable.
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