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30 May 2007

GBPAUD Bearish Divergent Bar Trade

GBPAUD Bearish Divergent Bar Trade


It was hard to turn down the strong up move in GBPAUD 4 hour chart.
As seen on chart 1st Bearish Divergent Bar failed to break the up move and stop loss was hit.

The new rush to the top failed again, forming a new Bearish DBar and Triple Tops. All three Bullish Fractals did not have been taken.

Fortunately the strong resistance pushed price down hitting one after another each sell stop orders.

It seems that the bottom of this impulse is about to end around 2.40 level (if nothing steams additional down move).

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