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16 May 2007

GBPUSD Divergent Bar trade

This is a trade that was fired after yesterday GBP news - surprisingly for me, but fortunately profitable ;-) .


Bullish Divergent Bar was followed by a strong rally and side move ended into Bearish Divergent Bar.

These to many moves in opposite direction (result fractals are seen scattered around) make me to close the trade and to lock the profit.

For the moment there is a short term sell and a long term buy signals so appropriate stop order should be placed around to catch the move (if any).


On the daily chart is visible the possible break point if up move continue and an possible entry point is marked with a Bullish Fractal.

We'll see what the market has in mind next sessions...

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