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Saturday, March 28, 2009

Update: GBP/USD Closed 510 Pips

After pushing 900 pips on Tuesday, GBP/USD fell on the remaining days this week. The pair is now at the 30 EMA on Daily chart. I decided to exit the position with 510 pips and open again at 1.4330. It is a good entry signal I think: price at 30 EMA and QQE cross down. Stop loss also has move to 1.4000. Target remain at 1.6200-1.6428 (38.2% Fibo retracement). Another levels of retracement are 1.7331 (50%) and 1.8235 (61.8%). However, there are

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