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Sunday, May 18, 2008

12 - 16 May

The pair reversed since Monday and was going sideways for the rest of the week. The 13 and 21 EMA cross gave late signals in this situation while the 5 and 13 EMA cross generate better entry signals. I lose 298 pips this week :P I closed 2 short positions near that red arrow on Friday, just before the price went back down :( GBP/USD resistance is at 1.9630 and USD/JPY resistance is at 104.50, so I expect GBP/JPY will fall next week:) Well that is all have a nice weekend guys!






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