Wednesday, May 23, 2012


Hope you guys manage to catch this pair in my previous post. If you did not, fret not. We shall look at a potential re-entry to short this pair. I have closed this pair with a 160 pips profit, looking to short at a higher price.

Looking at 0.98007, it appears to be a good level for price to retrace to.

The zone of 98007 and 0.98112 is a confluence zone where price may potentially turn. Always confirm with a bearish candlestick pattern.

This appears to be a strong support in the past. Now it acts as a strong resistance. Trade with caution. But definitely, this would be a low risk high probability setup. Keep the pips coming!

Took this trade @ 0.97772 with SL @ 0.9828

Will update with the results of this trade

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