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17 May 2007

Time to leave



One cannot trade all the time - otherwise how will enjoy the profit?

This is what traders have to do now (only my opinion ;-) - take your profit and enjoy it.

Looking at the EUR-GBP 4 hours chart it is obvious that trade have to be closed and profit collected.

Why?
  • The alligator is fed up and is going to nap.
  • Gator is closing.
  • There are at least two close below the pink line.
  • Too many fractals in opposite direction

In short - look on another place.

Let's take a look on the daily chart for a moment.
There is also signals in opposite directions:

Possible Double Tops and Bearish Divergent Bar versus almost a week Acceleration and Up momentum. But the upward move is too steep forming a bearish angle...

SO the daily chart just confirms what the 4 hours one is saying - look at another place!

Let's enjoy the profit!

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