Trading at 1.6624 now, above the triangle at 1.6589. Interesting to see if we can close above that today thus confirming the break. I have decided to stick to my "Trading Rule #8 - Limited Pyramiding" and be content with what I already have ie around 4% EAR. The only reason why I have managed to survive this recent chop around 1.60 and 1.66 is because I kept discipline on maintaining position size. I will stick to that, given that it has served me well. So no increase in spite of fresh trade signal.
30 June 2009
GBP/USD : Triangle - breaking out
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