Thursday, December 20, 2012

EURGBP Channel Trade EURGBP Channel Trade
On daily charts, price is moving in ascending channel. 

This channel is in place since Sep and it offer a good trade opportunity to play the ranges. 

On daily charts, price has just crossed above 200EMA and looks to test channel's upper trendline. Currently price is backing off from previous highs of 22-Oct.

I plan to play ranges of this daily channel. I will go short on touch of upper trendline and long on touch of lower trendline. 

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