2 Oct 2007
Collected my profit yesterday with a short at 2.0430 and TP at 2.0390.
Expecting a side way movement, but with probability of down, with the daily chart showing a strong overbought for GBP, I will place some short position rather than long. If the price break below EMA100 (using 1 hour chart), I will trigger my short poistion (2.0380) and take profit below EMA200.
A breakout up will be at 2.0500 and a strong breakout down is at 2.0330.
Looking at the other currency, EUR YEN CHF have make high against USD. Will it reverse? Stong case and if so, GBP will too. But who is the leader?
Expecting a side way movement, but with probability of down, with the daily chart showing a strong overbought for GBP, I will place some short position rather than long. If the price break below EMA100 (using 1 hour chart), I will trigger my short poistion (2.0380) and take profit below EMA200.
A breakout up will be at 2.0500 and a strong breakout down is at 2.0330.
Looking at the other currency, EUR YEN CHF have make high against USD. Will it reverse? Stong case and if so, GBP will too. But who is the leader?
posted by Ernest Seng at 7:42 AM
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