By mike on July 17, 2010
Daily:
Price broke the bullish trend line and took out the major support at 1.0512 to form a bearish impulsive wave. we are expecting a retracement to 1.0906 which have several confluences including; trendline bounce, 38.2 of the bearish swing and key level. Moreso, the bullish harami candle stick pattern at key level looks very much likely to fire a bullish run
1HR: price gave a perfect bullish butterfly touching the key level and a possible bullish crown in the making will fire a confirmation of a rally till 1.0906.
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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.
