Tuesday, February 14, 2006

GBP


A thought on GBP for Joseph (Trader01) as he was looking for a time of movement in the pair. Everyone has their own trading preferences that are unique to the individual, as for myself (mainly because of gracious tutoring and the fact that it makes sense in my Bear Brains) I look for a time for change as well as price.Shown is a point in time, figured from the cross angles of the pitchfork, for the pound to react. Although I like the current low and would respect it as long as it holds, my thoughts on equal or measured moves are shown in the event of the low being breached.This is more of an if then setup, Long, if the channel holds and if price is in the box at the appointed time ( choosing from various fib and trend line levels that would be determined then).
Bear

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