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Saturday, March 14, 2009

Entry: Added GBPUSD to the Portfolio

GBPUSD touch 1.3654 this week but soon bounced to 1.38 area. I opened a position at 1.3812 with Stop Loss at 1.3494 low. I think it's a good price to buy the pair. First target will be 38.2% retracement area around 1.6428 and 50% retracement level around 1.7331 next. 13 EMA has just crossed above the 21 EMA on 4 hour time frame but the QQE indicator hasn't completely cross above the 50 level. Below is the picture.

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