European forex blog » chart http://topfxsignals.com Daily currency review, examples of trades. Lern how to trade on my blog. Mon, 11 Jan 2010 07:06:52 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Short on GBP/USD http://topfxsignals.com/2009/03/short-on-gbpusd/ http://topfxsignals.com/2009/03/short-on-gbpusd/#comments Thu, 19 Mar 2009 22:13:43 +0000 trader http://topfxsignals.com/?p=28 My first trade on my blog :) So i took short on gbp/usd.

+50 pips with 30 pips SL

Resaons:

-On daily chart there’s nice downtrend. Trend is slowing down You can see it on MACD chart below, but still down

daily chart gbp/usd

on 4h chart below we can see nice spike up, so i’m drawing fibs (from total bottom of this swing to highs) and trying to get in on retracement or extansion, threre was no pullback to minimum 50%  retracemnet ( on 15m chart). As You can see there an exalent level two fibs targets are almost at the same price. GREAT!! Pleace to short :)

h4 chart gbp/usd

So i took exelent short at top and get 50 pips :) There ware strong uptrend whole day and no pullback for me to get in.

I’m trading on 15m chart but using also 4h and daily chart to see what is going on. Will explain soon my technics.

NOTE:

Safer is to put trade on pullback then on profits also safer is to have multi reason to put trade.

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