Thursday, November 22, 2012

EURGBP Triangle Trade EURGBP Triangle Trade
I am watching a triangle breakout in EURGBP. 200EMA & 100EMA are in the middle of the triangle. 

This triangle is in place since 29-Oct. And since then price action is very rangy.

The width of channel is just 60/70 so I wont trade any pullbacks and will favor only breakouts. 

I will go long on breakout of upper trendline and short on a break of lower trendline.

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