My Ironclad Rule

"It's not how many pips you make, It's how much risk you take"

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Monday, March 29, 2010

GBPUSD : Bearish Bat


Another pattern appears (bearish bat) where B is slightly above 0.382 XA at 1.4888, C is at 0.886 AB while D is supposed to be at 0.886 XA or 2.618 BC at 1.4977 but the projected level has been broken and now forming double top with slightly higher than X. In the strong bullish momentum with firm support trendline, I'm anticipating more upward move when the price bounced off the trendline in the near term.

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