Tuesday, October 16, 2012

GBPUSD Short Trade

This is in continuation to my previous short trade setup plan at [here]. 

myfxvoyage.blogspot.com GBPUSD Short Trade Setup
Currently price has moved back to horizontal resistance area. Above it comes the descending channel's upper trendline .Looks like price is consolidating near to horizontal resistance area. I am expecting price to be constrained within the channel boundary.

Previously , I went short at 1.6078. 

At current prices, I am opening one more short position looking for a move to downside. I plan to open one more short at channel upper trendline, in case price moves to that area. 

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