Ferrowolf's Den of Trading

Still building my humble Den, so please bear with me, it'll be done soon! =)

GBPUSD flat top triangle break

Sorry I haven’t posted in a few days, been busy as well as sick. In fact, I’m still feeling somewhat under the weather. I hope it’s not H1N1!

Basically I’m seeing a flat top triangle, it broke above 1.6630 resistance
General trend is largely up, though it’s been kind of range-ish lately.
I’m waiting for a consolidation or a pullback on the 15min before making my entry.
Note the importance of the 1.6655 level. See the chart for further explaination.
On the 15min charts, there are 2 long tailed dojis, one inside the other, done against a know level of support/resistance. Rather bearish signal ya?
So alternatively, if this breakout fails, there’s a supporting trendline which I’ll be observing.
There’s a doji forming on the 1hr. 
You can see it on the chart attached.

GBPUSD setup 15th Sept

September 15, 2009 Posted by | Uncategorized | , , , , | Leave a Comment

EURJPY flat top triangle 7th Aug

EURJPY has been consolidating over this past week. watching it pretty closely, maybe there’ll be a trigger for a short term play later, but mostly i’ll be looking forward to the longer term play this could offer to us.

EURJPY 1hr 7th Aug

August 7, 2009 Posted by | Uncategorized | , , | 1 Comment

   

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