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Tuesday, January 6, 2009

GBP may set for a Bull...Euro still hammered by USD

As of 7.10 pm (Brunei) there's still no trade that I can execute in the currencies that I am looking at with Kuasa Forex indicator. First I will like to discuss EURCHF that I am aiming to trade as soon as the 1-minute chart making some bull run. I'm looking for the indicator to turn blue first before it resume into RED.
From the chart above of EURCHF, my main trend the 30-minute chart is in Bearish signifies by the RED indicators (notice all three indicators in RED). The 5-minute chart is also in RED, the same with 1-minute chart which prompts me for a short trade. I am now just looking at my 1-minute chart to look for a next short trade. Before I can do that I need some retracement...so I just wait for a blue indicator to develop before I can trade for the next RED dot.
My target will be at S2 with a stop loss to be defined as the market develops.




4 comments:

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