FREE TRIAL: Follow up on GBP/USD…a winning trade.

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"The European single currency is bound to fail, economically, politically and indeed socially, though the timing, occasion and full consequences are still unclear [...] The most important priority for non-Europeans is to see that European policies do as little harm as possible now or later to the world economy".

                                                                                Margaret Thatcher, 2002

 Commentary & Analysis

FREE TRIAL: Follow up on GBP/USD…a winning trade.

Last Thursday, 22 May, I told you and showed you this:

The pound has been on a tear as you likely know; for good reason given the surprising rebound in the UK economy.  Technically a case can be made the high is in place at 1.6996—time will tell.  But given how far and fast the currency has run against the dollar, a decent and “playable” correction would be no surprise.  That’s why Black Swan Forex subscribers entered this trade short today—the risk/reward looks quite good.  Take a look at our hourly wave chart of GBP/USD:

Here was the recommendation to my Black Swan Forex subscribers on that same day:

RECOMMENDATION: Selling GBP/USD below 1.6855 [last 1.6865]

22 May 2014/7:04 a.m. ET 
Issue #1131

I suggest you sell GBP/USD below 1.6855; risking to 1.6906; targeting 1.6552

Jack Crooks

Black Swan Capital

Today I told our subscribers to lock in some open profit, as here is what GBP/USD is doing now; it is testing key support at 1.6729 (so we have about 135 pips open profit on this position now):

052814 gbp 60.png

We recently grabbed about 78 pips profit on a short AUD/USD position and have re-entered this morning; we have some open profit in short EUR/USD and looking for a gift from Mr. Draghi and are still like USD/CAD long, though we are taking some heat there. 

If you would like to sample our forex service, I will set you up for a two week trial and you can see more of what we do and determine if Black Swan Forex could be a resource to help you make real money in the currency market.

Please click here to request a free trial

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Thank you.

P.S. The US dollar reserve status and case for a continued bull market webinar went well last Friday.  I will be sending a link to view the recording once it is setup by TopStep Trader.


Jack Crooks

President, Black Swan Capital

Twitter: @bswancap