Confessions of a Forex Trader

The GBPCHF traded near a long term support level (it even broke that level and traded in a bearish market condition for a few hours, but it is back now) for a few days but today it broke that range for the upside triggering a bullish market condition:

GBPCHF

Now it is in a clear bullish market condition and there are quite a few pips before the market hits the next LT lvl.

My Trading Plan:

As long as the GBPCHF trades 1.6516 I will be looking for long opportunities.

All short opportunities will be ignored.

Trade Safe!
Raul Lopez

Tags: Forex Crosses, gbpchf, GBPCHF analysis

This entry was posted on Wednesday, January 13th, 2010 at 5:37 pm and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.