FOREX Trading Review Video 01 MAY 09 GBP/USD : Close above resistance

Posted by - 20/10/09 at 05:10 am

GBP/USD long trade based on a close above previous resistance. Entry made by candle pattern. Reasons for trade: – Strong Bullish engulfing candle close on the 4H, which closed aggressively above previous resistance. – Price found support off the 8 & 21EMA’s. – Strong momentum shown on the 1H charts which should carry a high probability trade. – Price action found support off the 50% fib level & old resistance level from daily chart. – Good angle and separation of the EMA’s confirming upward …

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FOREX Trading Review Video 01 MAY 09 GBP/USD : Close above resistance

This entry was posted on Tuesday, October 20th, 2009 at 5:52 am and is filed under Currency Trading, Forex Trading, Forex Trading System, Forex Training. The entry is tagged under , , , , , , , , , , , , , , . You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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