We became uptrend biase when prices started making higher highs and higher lows as shown by the zigzag on price. There is then a very strong support on a Fibonacci confluence level, which also converges with the S1 level of the day. Trade is entered on the turn of the repulse-zigzag indicator at 1.6676 with first profit target at 1.6724 and second target at 16746(day's pivot level)
Tuesday, 10 November 2009
Day trading analysis - GBP/USD (10/11/2009)
We became uptrend biase when prices started making higher highs and higher lows as shown by the zigzag on price. There is then a very strong support on a Fibonacci confluence level, which also converges with the S1 level of the day. Trade is entered on the turn of the repulse-zigzag indicator at 1.6676 with first profit target at 1.6724 and second target at 16746(day's pivot level)
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