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117 pips,$117 minilot, $1170 standard lot

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Stalion



Gender:Male
Joined : 23 Dec 2007
Posts : 217
Location : Nigeria

PostSubject: 117 pips,$117 minilot, $1170 standard lot   Thu May 08, 2008 1:56 pm
Hi folks,
hope you'all having a wonderful week trading the currency markets. Lets review what happened yesterday on the GBPUSD. We had the UK Industrial and Manufacturing Production reports,which came out less than expectations(-0.5% actual vs 0.3% previous). That was bearish for the GBPUSD, which supported the CHART PATTERN RECOGNITION and PRICE PROJECTION TECHNIQUE downward bias.
We also had MACD negative divergence to price,which also confirmed our move to the downside.
117 pips approximately, was made yesterday,$117 minilots, $1170 standard lots on the GBPUSD .



1.9766-1.9649=0.0117
1.9688-0.0117=1.9571(target point)
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117 pips,$117 minilot, $1170 standard lot

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