Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Daily Technical Outlook
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="katetrades, post: 41253, member: 21862"] [b]Trade Setup of the Day: Short GBP/USD (February 26, 2013)[/b] GBP/USD made a huge gap down over the weekend but price pulled right back up and the pair starting to close the gap completely. The previous week’s close is around 1.5241, close to the 50% Fibonacci retracement level. Stochastic is already in the overbought region, hinting at another potential move down. Shorting around 1.5250 with a stop above the 1.5300 major psychological level and aiming for the 1.5100 area would be a good day trade with a reward-to-risk ratio of 3:1. If you’re going for a longer-term short position, aiming for the 1.5000 round number with a trailing stop would help you press your advantage and protect your profits. [IMG]http://www.tradersway.com/var/tw/storage/images/media/images/260213_1/14109-1-eng-US/260213_1.jpg[/IMG] Take note that Bank of England Governor King is giving a speech today. He just voted in favor of further easing, according to the minutes of the latest monetary policy meeting. The last few times that happened in the past five years, the central bank actually implemented further asset purchases in their next interest rate decision or within the next three months. Given the Federal Reserve’s intention of tapering off asset purchases, fundamentals are in favor of a GBP/USD short trade. However, Fed head Ben Bernanke is also scheduled to give a speech during the U.S. session today. It’s his semi-annual testimony in Congress so it could be a major market mover. [I]By Kate Curtis from Trader's Way[/I] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…