Newest Trade

I liked the way the EUR/USD was looking this evening BUT decided to go long the GBP/USD instead. Because of a big move it recently had, the trade was to wait until it had a rotation...a little profit taking. This is otherwise known as a swing trade. The 1.631 level looked like a good entry point as we had a bullish bounce off the 60 Day EMA so I did it...

Long 1 Lot of GBP/USD @1.6360...

If we get a 4 hour close on the EUR/USD above 1.4169, I am going to use a Bob Iaccino technique and get in. It's not an official rec. by him, but I love trading on my own with his lessons and techniques.

I think equities are looking really strong here...at least until 956 S+P...this should help support my trade and allow for a generous Stop (1.6283)