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RedStaR
Sep 5, 2013 12:44 AM

Ratio Trading: GBP/USD shorting opportunity Short

British Pound/U.S. DollarFXCM

Description

A good shorting opportunity based on harmonic patterns.

Very good odds of trend reversal at price range of [1.57100, 1.57300]

Prices to take short would be either the top of the chart as mentioned above, or the trend line breakout.

Place your selling orders at both of these locations, whichever triggers first.

Targets to take profits are shown at areas of confluence.

Happy trading.
Comments
kamukak
Hi There, Do you think your chart analysis still valid?
RedStaR
Not anymore, fundamentals and the Syria incident gave strength to cable.

I'll be drawing another plan after this post.
RedStaR
You could also check my other GBP/USD chart, it still remains valid,
RedStaR
Glad to help
kamukak
Thank you Redstar for your helpful analysis.
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