[TW] 24/02/2012 - GBP/USD (short) by fedegmail

[fedegmail]

Pair: GBP/USD

Timeframe: H4

Long or Short: Short

Entry point: around 1.5880

Stop loss: 1.5940

Profit targets: first take profit at 1.5780; second take profit at 1.5700

Reward-to-risk ratio: 3:1 (reward: 180 pips - risk: 60 pips)

Risk percentage: 1%

Indicators: Exponential Moving Average 200 (EMA200); Stochastic Oscillator

Trade rationale: EMA200 says that the pair is moving in a range and now the pair is located in the upper part of the range, then Stochastic Oscillator shows an overbought... so just sell!

Trade adjustments: nothing... just take a look at fundamentals!



Good luck to everybody

[OhShi]

same, i executed the trade. with the idea of strong resistance line there.
Also notice the strong resist at Hourly chart, on date 2011-11-14 and 18.

Good luck.

[fedegmail]

same, i executed the trade. with the idea of strong resistance line there.
Also notice the strong resist at Hourly chart, on date 2011-11-14 and 18.

Good luck.

Glad to see that someone shares the same idea

[fedegmail]

just another thing: you can see a "shooting star" from the chart I zoomed



another reason to open a short position, good luck guys

[ud1nh0]

wow a white coloured shooting star during an uptrend
weekly chart too, a white hanging man during uptrend

ok lets short G at G/CHF good luck guys

[forexshankar]

Another reason to short - on daily chart 200SMA is the resistance.