Monday, October 15, 2012

EURGBP Triangle and MA Resistance

This is in continuation to my previous post [here] indicating triangle formation in EURGBP.

myfxvoyage.blogspot.come EURGBP Triangle Trade
Price is currently near the upper trendline of triangle. This area also has 200MA and is proving tough to break. Price has break 200MA twice but then got rejected by upper trendline.

Today also 200MA is proving tough to break and price went south. 

My trade plan is to go short at as-close-as-possible to upper trendline and long near to lower trendline.

No comments:

Post a Comment

Related Post