19 March 2008 - 21:35Trading Advice 3/19/08

I hope you all listened and bought the dollar after the 75 basis point cut (as crazy as that sounds) and have already or are about to book a profit on it. From a technical perspective GBP/USD is a buy right now with support coming in the way of the 61.8$ Fibonacci at 1.9782. I strongly suggest you dump this trade BEFORE the retail sales in the morning however. If you are already in a profit at that point I guess you could put in a stop to secure profits and hope for a good number. If your broker is not real good about honoring stops in fast markets though you should just get out and probably find one that is while your at it. I can refer you to a broker who will honor your stops if you need me too.