12 October 2012

GBP/USD : Fresh Short @ 1.6095

  • Previous 3 units short stopped out at 1.6068 earlier for a profit.
  • Start brand new trade : Sold 1 unit @ 1.6095. Plan to add 1 unit at 1.6139 (50%) and 1.6182 (62%) = Fibonacci levels of [1.6306 - 1.5975].
  • Monthly : Triangle consolidation. 
  • Weekly : Double Top formation. 
  • Daily : Uptrend broken. Sell rallies.

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