11-09-2007, 10:15 AM
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Member
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Join Date: Nov 2007
Location: Moldova, Chisinau
Posts: 95
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Hello, here is the trade plan for today
Quote:
GBPUSD New day on the Forex... What's going on?
Good morning.
Today we have reached important resistance level, and price have bounced from it.
It is a very good theme to discuss, but first I want to write some words about yesterday situation.
Take a look at the picture.
20071109+-+gbp01.gif (image)
As I thought, we had an ascending movement yesterday.
On my chart I marked out some points.
Take a look at the rectangle. As you can see there were 4 false breakouts of the max level. After that this level was broken with the one powerful movement, and only at this point we could open a trade. Also I marked out stop level: according to the system, I use, it must be placed a little bellow the previous fractal.
Take a look at the second picture
http://http://bp2.blogger.com/_Sv1U9...09+-+gbp02.gif
It is the same chart, but TF is M5.
Here you can see the reason why I use this heavy black MA (233).
I have marked out four regions, where MA has become a good support for the price. Also you can see that this heavy MA had ascending movement curing the whole period.
Now about the current situation.
Here is a picture
20071109+-+gbp03.gif (image)
I marked out all levels in red as usual.
Right now it looks like we are going to reach new tops. If we will manage to break the last max level, then I will buy after a rollback.
Sells are still dangerous today. There may be a correction, but a good point to sell will be lower then the last min only. I will sell only shortly.
And one more thing. There were no DJ levels yesterday: they simply didn't publish them. If they will publish it today, I'll add them to my chart and post it here.
Best Regards
Anthony Schneider
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The trade plan is taken from: The Uncommon Trading In My Life: GBPUSD New day on the Forex... What's going on?
Good Luck 
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