By mike on April 16, 2010
price is trading inside a large triangle with sentiment still bullish due to the bullish crown formation on 1hr TF
also there is a good bullish opportunity coming at the said level based on an emerging bullish butterfly with the following confluences
1. key level
2. possible retest of trendline on daily
3. 38.2 fib retracement of the bullish swing on daily TF
4. 1.27 fib extension of xa
5. 1.618 fib extension of ab
entry = 92.27
stop =91.97
t1=92.70
t2=99.00
Posted in Closed Trades
My name is Fowope A. Mike, a mathematician and teacher, who has worked in one of the leading banks in Nigeria for 8 years. I started trading the Forex two and half years ago. I am a chartist, who vehemently believes in 'Trading what you see on the chart'. My trading concept is looking for convergences at important levels. I employ harmonic patterns, multi time frame analysis, trendlines and fibonacci retracements as my trading tools. I am a contributing editor for currency market column of stock watch magazine in Nigeria.
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