- Moving average has been broken and closed under. Price has not passed the 34 pip barrier from the moving average trigger.
- Laguerre breaking down from bullish mode.
- CCI Histgram crossing down through the 0 line. A little contentious as we really need this candle to close in order for a break of the 0 line... but lets see how this works anyways.
- Trix has turned bearish.
Trade - Short 1 Unit at 1.5766Hard Stop 1.5821 - 55 pointsTP 1 - 1/2 Unit @ 55 points - spread ,TP 2 - 1/4 Unit @ 89 points - spread .Stop moves to Break Even (BE) at 55 points.Balance 1/4 Unit trailed until a reversal trade is generated .
Thats pretty much the gist of the whole thing. There is still alot of finetuning and testing of the various components to be done and only time shall tell as markets test the method. But lets see how it goes.
Thursday, 9 December 2010
Cable
Although I am still finetuning the various accompanying indicator settings a potential short GbpUsd setup is unfolding. Ideally this is how it looks -
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