FOREX Trading Review Video 28 APR 09 GBP/USD : Bullish Engulfing Pattern
29th July 2009 by PartOfCar Comments OffGBP/USD long trade based on momentum from EMA / FIB lines / candle pattern explained. Reasons for trade: – Strong Bullish engulfing candle close on the 4H, which closed below previous resistance. – Price failed to push lower on the 4H time frame, and close below 1.4560. – Price action found support off the 23.6 & 200 moving average on the 4H. – Large belt holding candle on the 1H which confirms momentum. – The daily chart found support off the 89, together with price action placing a higher …
