Buying some $GBPUSD 24-August-2009

This is the setup I am looking at the moment. Let's see how it works out. I am looking at buying some GBPUSD should the price retrace and trade around 1.6450.  And first target at 1.67.

Here is the .... CHART

GBPUSD_23August2009

Comments

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  1. Trader Gav — Trackback
    Buying some $GBPUSD 24-August-2009 http://is.gd/2uxmk
  2. Gulzaar
    I was looking at the same set up - the hourly EMAs are really tightly intertwined, so a break out is bound to be powerful. I may get in on a 15 minute retracement though, I think a four hour retracement will take a day or two. Good luck!
    1. Gav
      I read somewhere, I guess it was from maoxian. He who trades off 5-min chart, will last in the market for 5 years, and off 15-min will last for 15 years, and so on... I guess, I'd love to trade for the rest of my life. ...:lol:
  3. Gulzaar
    I was looking at the same set up - the hourly EMAs are really tightly intertwined, so a break out is bound to be powerful. I may get in on a 15 minute retracement though, I think a four hour retracement will take a day or two. Good luck!
    1. Gav
      I read somewhere, I guess it was from maoxian. He who trades off 5-min chart, will last in the market for 5 years, and off 15-min will last for 15 years, and so on... I guess, I'd love to trade for the rest of my life. ...:lol: