Stalion
Joined : 23 Dec 2007
Posts : 239
Location : Nigeria
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 Subject: 79 pips, $79 minilots, $790 standard lots for Easter aftermath  Wed Mar 26, 2008 9:44 pm |
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Greetings, fellow Traders, 
What happened this morning? We saw price on the cable(gbpusd) shot up to a high of 2.0110, before
exhausting its momentum and going down. We could see MACD trending downwards which
shows an underlying weakness of the market at that point in time. There was a break of the
support trendline which signified another cue to go short(sell).
By applying my CHART PATTERN RECOGNITION and PRICE PROJECTION TECHNIQUE, we
were able to get a target point of 1.9954, which made us approximately 79 pips this morning.
All in a hard day's work,right? 
2.0103-2.0024=0.0079
2.0033-0.0079=1.9954 (target point)
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