Last week I
pointed out a potential trade in the Eur/Gbp pair and asked if the recent dip should be bought. The time has come for the trade as the pair has pulled back to the 50 day exponential moving average and the TLT Trender v2 has maintained a green buy/uptrend signal. To top everything off, the Stoch hit oversold levels and is now turning up...a bullish indication. Here's the updated chart:
Remember, this is just a trade idea, not a forcast of the future. This setup tells me that the Eur/Gbp is likely to move up from here but there is always the possiblity that the pair will keep falling and for that reason it is important to use proper position sizing and a hard stop loss.
I'll post an update soon.
TLT
Remember, this is just a trade idea, not a forcast of the future. This setup tells me that the Eur/Gbp is likely to move up from here but there is always the possiblity that the pair will keep falling and for that reason it is important to use proper position sizing and a hard stop loss. 
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