The rate is trading @ 1.5870; yesterday High 1.5896; low 1.5516; close @ 1.5853;
In light of yesterday correction to 1.5510 area around 70% of the bullish movement of the day before, I was expecting the pair to move at least to 1.5980-1.6000 area; this didn't happened; so today I will play on correction and major trend movement; I think that we should experiment at least a correction to area 1.5780-1.5800 before a movement vs area 1.6000; I see it to risky to bet on a continuation on the bullish side, since the fail yesterday to perform area 1.600 may bring to a major correction of the main trend;
Here are some support and resistance:
R3 1.6515; R2 1.6135; R1 1.5994; S1 1.5614; S2 1.5375; S3 1.4995;
here is my trading plan;
I will sell 2x unit of GBP/USD right now @ 1.5870; stop loss @ 1.5910;
I will take profit 1.5780-1.5800 area;
and than I will go long 2x unit where I close the short posiition;
stop loss 1.5695;
take profit close to 1.6000;
have a good trading day
:D
please if any comment good one or bad one, do not esitate.
i am following your trade signal for couple of days. Good Information . Thanks alot man
ReplyDeleteHi Mastermind,
ReplyDeletethanks alot to follow my blog;
about today posting I am closing my long position right now @ 1.5926;
I am scared we'll never see 1.600;
we made 392 pips today:
good stuff...it pay for lunch :D
have a good weekend
can i have your yahoo id or msn
ReplyDeletepls add chanthru)s@yahoo.com
hi,
ReplyDeleteI am sorry to answer so late, I was out for the long weekend;
I am sorry, right now I do not have a IM related to the blog;
but asap I will think to create one, you'll be the first to be added;
btw, why you do not start supporting the blog?
cheers