By mike on April 28, 2010
FOMC and RATE from USA comes out 8mins time. traders should trade this signal with caution
Daily: Price Broke out of the triangle and it looks like restesting it
1HR:there is a possible strong short coming up at 9285 based on an emerging bearish BAT with the following confluences
1. 1.618 fib extension of AB
2. 88.6 fib retracement of XA
3. possible daily trendline retest
4. 1hr bearish trendline bounce
5. Good resistance level
trade management
entry 9285
stop 9325
move stop to break-even when price hit 9260
t1=9230
t2=9080
Posted in AUSD, Pending 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.
