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in Closed Trades - 31 Jul, 2012
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#GBPUSD trade closed just under + 50 pips

System alerted us to  bullish butterfly patterns on 4 timeframes today.

Harmonic pattern detection

Harmonic pattern detection

A look at the chart showed us at support and also 50% retracement of the previous larger move up.

GBPUSD

GBPUSD

We also had some divergence which the website alerted us to so trade was taken long . We took 1/2 profits at + 20 odd and then moved stop to break even. Pair moved up to 1.57 where it found resistance and then started dropping so we closed out 2nd half of trade at + 27 pips , so just under 50 pips for this trade.

GBPUSD

GBPUSD