Thursday 14 April 2011

GBP/USD Analysis 2011-04-14

As previous GU trading met the Stop Loss, the trend has changed in 1H chart. A new pattern has emerged that is an incomplete Head & Shoulder as can be seen in 4H chart.

GU still above Kumo and TS. However, GU is very near to Kumo and it is an indication that 4H bullish is weak. GU at weekly and daily chart still above Kumo and bullish still in control.


However, at 1H chart, GU already pushed above Kumo and it is an indication that 1H Bear beaten by Bull.

Trade Idea:
Today new trading opportunity that traders can make.
1- At 1H chart, long position when GU above Target Buy Stop and SL when close below Kumo.
2- At 4H chart, short position can be taken when GU H&S pattern completed. SL when GU close above Kumo.

Happy trading.
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1 comment:

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