Monday, 11 August 2008

The GU trade (buy at 1.9045 with SL 1.8980) was based on the monthly Fibo chart. The starting point of Fibo may be chosen incorrectly. One calculated Fibo is 1.9040 and the other is 1.8983. I should have compared different starting and ending points to calculate the Fibo. Furthermore a 65 pips SL might be too tightly for a monthly chart.

One of EU's support 1.495 has been broken yesterday (closed below the support at 1.4893). The next support will be ~1.457. The time to hit the support is expected to be mid Ocbober.

Should closely look at GU.
GU: buy limit 1.8750, SL 1.8680

I closed EU and AU. GU's limit buy touched the SL.
EU: +0.1% (not a good trade. Should write reasons before entering a trade)
EU: +0.037%
AU: +1.285%
GU: -0.65%

The week ends 8 August: +1.369%

1 comment:

The Fakhirin said...

good job on your blog....

regards,

faizfakhirin:
http://indicators-forex.blogspot.com
htt[://forex-discussion.blogspot.com