My GBPUSD analysis:

Discussion in 'Technical Analysis' started by TraderDTS, Feb 9, 2010.

  1. Last week I have made +376 pips with my method.

    My GBPUSD analysis:

    1.1 GBP/USD WEEK
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    There are no changes over the past week. Uptrend. The first target along the trend almost coincides with a strong reversal level 8/8. The price is in the trading range, a flat trade is possible. Since the price is beyond the time frames, for the further analysis we need to reconstruct the template using new extremes.

    1.2 GBP/USD DAY
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    This is a downtrend. On the way to the target there is a strong reversal level 4/8, which is significant on weekly charts and has been reached very quickly and without much correction. There is a high possibility of a reversal or a deep retracement from this level. A flat period in the trading range is also possible.

    1.3 GBP/USD 240
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    We can see a downtrend. The target along the trend and strong reversal level 0/8 are reached. 3 MM-lines were passed through without much correction. According to the rules of price behaviour in MM-lines there is a high possibility of the trend’s reversal or a deep retracement.