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Thread: Discuss the GBP/USD with a DailyFX Analyst
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  #7594 (permalink)  
Old 02-10-2009, 12:38 PM
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Quote:
Originally Posted by Tigger View Post
Well, I'm not an economist, nor do I pretend to know much about Forex trading and charts. Being a humble mechanical engineer, I believe in one philosophy where trading is concerned. Quantum Mechanics and Chaos Theory

Look for a sharp rebound.
Yes, I would think there will at least be some kind of retrace soon... maybe not "sharp" but a retrace nonetheless. I am looking for a long entry right around 1.4500 or so, as all charts 60 min. and faster show oversold RSI.

Edit: In fact, I just went long one micro lot at 1.4520... whee! Stop is 1.4508.

Edit again: Stopped out... back in long again at 1.4488. Let's try again... stop at 1.4460.

Oi again: Holy cow, what a rout. Stopped out. 500 pips down in 24 hours!
Last edited by beeryboogy; 02-10-2009 at 01:34 PM..
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