Today, I have 3 open position, and all are SELL :
SELL GBP / USD at 1.6469 (Sept 8, 2009 11.12 system time)
SELL GBP / USD at 1.6494 (Sept 8, 2009 11.20 system time)
SELL GBP / USD at 1.6505 (Sept 8, 2009 11.33 system time)
And as usual, haven't put my profit taking target yet.
But see the picture below, that is my plan. If the price goes higher (current price = 1.6500) and break the current high price (current high price = 1.6523) I will use the 1st target (which is arround weekly BB / 120 period at TF H1, deviation 1) and let my 1st sell order to get 0 (zero point). But, if the price is started to go down soon, I will use that 2nd target (arround monthly MA).
I dare to sell because seeing the fact that these few weeks market is bearish (GBPUSD). See the picture below :
And, do these two pictures below look similiar ? This is called Divergence Trading. Lower High on the real chart, and Higher High on Stochastic Oscilator. Hope it works, hehe :D
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