January 10, 2010

British Pound Sell Setup - 200 pips

100_12002Hello fellow traders,

Below is a video I just made on a 30 minute GBP/USD chart that could have taken in near 50 - 200 pips.  This was yet another classic trade setup that I have  been "pounding the table" on for the last 18 months.

Hope this gives you some food for thought….

Until next week, peace and prosperity,


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Key Market Reversal Levels for
Jan 11 - Jan 15

 

GBP/USD

EUR/USD

USD/JPY

GBP/JPY

EUR/JPY

Turning Point Down #3 1.6414 1.4866 96.96 155.00 138.50
Turning Point Down #2 1.6275 1.4658 95.00 152.28 136.97
Turning Point Down #1 1.6159 1.4489 93.47 150.00 134.50
 
Turning Point Up #1 1.5932 1.4247 91.89 147.49 131.64
Turning Point Up #2 1.5814 1.4050 90.78 145.00 130.00
Turning Point Up #3 1.5669 1.3750 89.50 141.81 127.38
           
Intermediate Trend
Direction
Down Down Up Up Down
Major Trend Direction Up Up Down Down Down
 
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