[TW] 01-23-2012 GBP/USD (long) by jawanda

[jawanda]

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Long or Short: Long setup on the Weekly chart
Entry Point: 1.5590
Stop Loss: 1.5540
Profit Target: PT1: 1.5640 ; PT2: 1.5690 ; PT2: 1.5740
Reward-to-risk Ratio: 1:1, or 2:1 or 3:1
Risk involved: 1% of account
Indicators: Support and resistance,stochaustic,rsi,trendline

Rationale:
Technical - potential break of trendline coming from 1.6129 dated 8-1-2011 is broken on 4hr chart. On weekly chart Regular Bullish divergence is in progress at major support level and white marubozo

Trade Adjustments:
After hitting first tp close half position of Trade

[ud1nh0]

any divergence analysis with MACD standart setting on weekly?
have u look at US Dollar Index 4H n daily chart with MACD and RSI??
got any next daily support pivot and resistance for additional info?

[Nabil]

its in your stop loss position right now

[jawanda]

entry point is 5590 so trade is not triggered dude