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Tuesday, June 24, 2008

GBP/JPY Trade Update


I closed my short position from yesterday with -97 pips. The support remains at 211.06. I missed the long signal in 1 hour as well in 4 hour chart early today. It was another nice setup actually where Gann gave signal, price breaking trendline, and MACD above 0 level. I will stand aside for now and look for development.

GBP/USD

The pair seems about breaking the trendline again after bounces off 50% retracement level. So at the moment I'm waiting for the candle to close. If the trendline break, the might test 1.9790 resistance since the move from last week is an uptrend.

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