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[QUOTE="ezekiel chew, post: 37606, member: 19705"] GBP/EUR DAILY John Murphy Chart Pattern Recognition (CPR) Analysis of British Pound / Euro Dollar (GBPEUR) On 17/12/12 Closing Price: 1.2305 A Symmetrical Triangle pattern has formed indicating a possible trading opportunity. A Symmetrical Triangle is a neutral pattern that can be preceded by an uptrend or a downtrend. Although the probabilities favor a continuation of the prevailing trend, the Symmetrical Triangle will sometimes act as a reversal pattern. An aggressive trader wanting to front-run a confirmed breakout signal may place a buy-stop for entry at 1.2529 and a sell-stop for entry at 1.2275 [/QUOTE]
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