Friday, March 26, 2010

GBPJPY—narrow broadening range

On the 15-minute chart you can see the Guppy is caught in a slight broadening top. I may try a short when it gets to the top of this one but I'm a little tired of the 20 pips here, 20 pips there movement.

Here's the 15-minute chart. Support and resistance is the same as in the prior post:

© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.

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