Euro Forex Pro Weekly 07-11 June 2010

[Sive Morten]

Good Day Sive,

I am seeing something that looks like a double repo on GBPUSD. But the thrust is very weak and took like 15 candles to form. What do you think of it, Sive ?

Hi Mandrake, please notify on what time frame
Anyway, I do not see good DRPO, but you can catch still a Bread&Butter Buy on 4-hour time frame from 1.4606 Confluence area. The target - 0.618 retracement from whole down move - about 1.4700 area.
So, I think buy from 1.4610 (although in may go a 30 pips lower, just watch for eny reversal patterns), t/p 1.4700, s/l at your risk, just watch for risk/reward ratio.
Good luck

 

[auna]

mandrake want a good one.try gbp chf. It is capped at 1.70( so tha is your SL). Meaning if it gets back to 1.6850 or 1.6900 sell with a tp of 1.67..1.6550 if you love risk

 

[Mandrake]

Hi Sive n Auna thanks for the advise. I was glued to the TV just now for the opening match. I couldn't trade at all hahaha.

Sive, on GBPUSD I was looking at the daily chart. It went up and down around 3x3 for about 13 candles with yesterday's closing a long green candle above it.

Auna, sometimes I do like to risk a bit. But the past 2 weeks have made me shaky so I am not gonna risk what I am not so confident of. Anyway market gonna close very soon.

I guess it's time for me to turn in for the week. Cya guys next week.

Have a good weekend.