Wednesday, November 5, 2008

11-5 Possible GBP/USD set up UPDATE

I am stalking this gbp/usd possible gartley pattern set up for a short trade. The level seems to be 1.6250 and there are a nice confluence of fibs there as well. I don't know if it will achieve the level today, but if it doesn't then I will regroup as there could be a larger gartley building on the 4 hour chart. UPDATE...as of this morning, 11-6, price has not reached the area but could do so today. Still watching to see if this is a possibility.