Thursday trade. A very obvious divergence of price action from repulse-zigzag indicator. More importantly, divergence occured on the 100% fibonacci level. Price support also hovering around wednesday's R2 level. Trade entered at 16542 with first profit target when price touches the 200MA (16589) and second target at 16639 (thursday's pivot level)
Friday, 13 November 2009
Day trading analysis - GBP/USD (12/11/2009)
Thursday trade. A very obvious divergence of price action from repulse-zigzag indicator. More importantly, divergence occured on the 100% fibonacci level. Price support also hovering around wednesday's R2 level. Trade entered at 16542 with first profit target when price touches the 200MA (16589) and second target at 16639 (thursday's pivot level)
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