Countertrend trade. Price action divergence from repulse-zigzag action. Price divergence also occuring on the 100% Fibonacci level. Price has also atleast made contact (broken thru this time) with the R1 level for the day. Sell Price entry at 1.6572.5 with first profit target at 16521. Second profit target at 1.6439
Wednesday, 4 November 2009
Day trading analysis - GBP/USD (04/11/2009)
Countertrend trade. Price action divergence from repulse-zigzag action. Price divergence also occuring on the 100% Fibonacci level. Price has also atleast made contact (broken thru this time) with the R1 level for the day. Sell Price entry at 1.6572.5 with first profit target at 16521. Second profit target at 1.6439
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