Friday, February 20, 2009

GBP/USD Pair @ 11.30 am (Malaysia)


SELL Area - 1.4295 (My target is 1.4090. Next - 1.3850).

BUY Area - 1.4315 (My Target is 1.4450. Next - 1.4606).

Trading Range Still Maintain At 1.4050 to 1.4606.

What Next For Today:

Initial support is at 1.4050 and if break candle will drop sharply at 1.3850. Then possiblility to drop furthur down to 1.3500 next week.

Initial Resistance is at 1.4606 and if break will go furthur up to 1.4985. After that posiblely will test 1.5372 at 2009 High.

Yesterday my Buy area met and candle easyly break my first target at 1.4350 and rebound back after reached 1.4445 to find Mr. Pivot at 1.4211.

Now look at the H4 chart attached for your refferences. Early morning at 8.00 am Malaysia Clock, candle drop furthur and is testing yesterday Low at 1.4090. If happen candle break this level, no doubt candle will drop sharply to test 1.3850. If fail again, candle will rebound back to find Mr. Pivot today at 1.4315.

Let see this happen and please becarefull and be alert on all reversal signal like Harami (Abandoned Baby), Mr. Doji, Inverted Hammer and etc. Until then Good Luck.

Salam and Allah Hu.

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