26 October 2010

GBP/USD : Initiated Short @ 1.5747

  • Monthly : Nearing top edge of a big triangle, continuation of long term downtrend. 4th wave triangle.
  • Weekly : Local double top, but NL is still far away. Nearer now to the top.
  • Daily : Topping out.
  • Fresh short small at 1.5747. Fully intend to sell more a bit higher up.