Chart Analysis GBP/USD

| Friday, 26 October 2012 13:42
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this post has been viewed 27 times

Hello again,

Noticed a great opportunity for you here on the GBPUSD.

As we can see the highs (resistance) are getting lower, while the lows (support) is getting lower at a faster rate.

So the total range between support and resistance keeps increasing with every swing.

(click to enlarge)

Now, those of you who know me understand that I don’t make any predictions on the market. Simply because I don’t like being wrong.

What I will say, is that this trade provides an excellent risk/reward ratio. Meaning, that by setting the stop loss outside the range and take profit near the bottom of the range, we have a risk of about 50 pips and potential reward of about 200.

Let me know if you have any questions.

Enjoy,

Mati Greenspan

| Friday, 26 October 2012 13:42
1

this post has been viewed 27 times

1 comments
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Gabby Labz
Gabby Labz

its a fallinf wedge....meaning trending down?

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  1. Chart Analysis GBP/USD | OmniForex Signals Reviews says:
    October 26, 2012 at 2:31 pm

    [...] support and resistance keeps increasing with every swing.       Now, those of [...] eToro Blog Share this:FacebookTwitterEmailDiggRelated [...]