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EUR/GBP

EUR/GBP

2010-07-07 13:21:00
Thomas Long, Course Instructor
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This hourly chart shows the current move up off of the low as a series of higher highs and higher lows. I like to look for the change back to lower highs and lower lows to enter into a sell and to me, that would start with a move down through the .82512 support level shown on the chart. Traders who sell that break should place their protective buy stop above the highs and look for twice that risk in profit for a 1:2 risk:reward ratio.

eurgbp 0707

 

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