Is this a good retracement to enter?
Posted on November 2nd, 2008 by Mayson
I’m looking at Forex daily charts, all of them are like one now GBPJPY, USDJPY, EURUSD, USDCHF etc, they all show some deep market retracement.
Is this a good retracement for entry in the direction of the prevailing long trend?
Tomorrow is Monday and I’m going to watch charts after the closing of the day. It might be a good time for entries on daily charts next week, but might be not. I would probably try and Sell below the last spike low on GBPJPY, and similar below and above the spikes high/low for other pairs.
I’ll return with observation and trading decisions most likely on Monday evening.
Successful Forex trading to everyone!
Update: so, I’m in, everywhere the trigger was hit.
Filed under: GBP/JPY Forex Trading
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