Tip or Junk idea : GBPUSD

I don’t trade Cable. I found my trading performance sucks when trading GBPUSD. 🙂 But I do follow the development of this currency pair. OK, to save my breath (man, I am having bad flu now..winter is coming..) , here is the chart. Does it look a SELL to you?

Trend Score: -85, we are in a downtrend

[photopress:gbpusd19may2008_trade_4hrchart.gif,full,1]

[photopress:gbpusd19may2008_trade_trend.jpg,full,1]

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Is it time now?…GBPUSD..uhm…

Last Thursday, we saw a sudden rally of GBPUSD, and we are now testing 2.0 handle. For trading purpose, I am looking at the possibility of riding the short term trend to around 2.02-ish level. Simple trend line breaking setup. Let’s see how it goes.

Here is the….. CHART!

[photopress:gbpusd20april2008_1.gif,full,1]

Here is the ….Trend score. We are still in the side way mode. So, risk of trading might be higher, but, as usual, it depends on how are you going to manage it. 🙂

[photopress:gbpusd20april2008_trend.jpg,full,1]

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