14/9/2011 2323 Hours :
On the hourly, a slow upward channel has formed over the first 3 days of the week. I had put a pending sell at 1.382, SL 1.3846, TP 1.3686. I am not really expecting the hit the full TP but the supply at 1.382-1.384 should give a decent retracement for a intraday trade.
EUR/GBP
14/9/2011 2355 Hours :
Taking a pending short at 0.8715, SL 0.8725, TP 0.866 for a quick intraday pullback trade. The prices is likely to bounce off 0.872, at least good for 50 pips.
GBP/JPY
15/9/2011 0010 Hours :
The bottom had fell out of this pair, and it looks like a short only upon retracement trade. Any long position in this pair will not be a good idea. The nearest supply is at 123.8-124.22. The price is moving away from the 21 & 55 MA, indicating an acceleration in the drop in price. It will be crazy to long now without knowing where the demand is. RSI and CCI also shows that momentum is still locked into a downtrend. This is clearly bearish but unfortunately there isn't a good point of entry into a short position until the supply area at 124-ish.
No comments:
Post a Comment