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possible long eur, short gbp setups.

11/11/2010

Here goes the first live trade possibility. I’m looking at a long euro setup, short gbp setup. And thinking about getting long EUR/GBP

Eur may be forming an inverse head and shoulders on the hour chart. It’s currently testing the bottom of the right shoulder. Looking for price to stay above .3710. and a break of .38214 should open the way for .3900 area. I will look for a long entry on the 5 min chart.

hr EUR/USD

gbp/usd may be flirting with a break of the hourly uptrend. We will need a solid break of the rising trendchannel, but short term resistance is right below at the 55 and 200 hr sma’s. So I don’t like this trade as much as the Eur. Therefore, i’m currently looking for long opportunities in eur/usd and eur/gbp on 5 min charts.

5 MIN GBP/USD

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From → Trades

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