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Naked Trading Feb 1, 2012 – US Session February 1, 2012

Posted by Musa in : Journal, Signal , trackback

Tonight in US session let’s take a look at EURUSD and GBPUSD

EURUSD

EURUSD in H4 seems that it trying to break the two previous high. The price is still in movement to break that high. It is possible that in this spot become the resistance and the price will go back down. But, if it can break the last two high, it is possible to break further.

Scenario today is open short or sell, with target point between the two trendline and stop loss at the last highest high. For the entry, we still have to wait for the best entry from candle pattern in M30 or H1 to confirm the reversal.

GBPUSD

GBPUSD from H4 also showing that the price was in the higher up-trend line. It is not touch the line yet but it is possible that in nearly from that line will become resistance point. Just wait and see in case of good entry signal for short or sell.

Update

Picture represent thousand word:

Result:

Close enough ha?

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