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London opening. Again opportunities for profiting

Posted on March 31, 2009 at 4:10 in Market comments by David Aranzabal

Update: For all of you that didn’t close the position in EUR/USD at 1.3300, we have the next resistance level at 1.3350, 38,2% Fib. Retracement from the previous leg down. Read more…

Today the window between Frankfurt and London opening was tricky, but just after the London opening we got the following opportunity:

- MACD Divergence in 60m (See yesterday’s article)
- Price approaching to 5m ascending trendline. (Upside move)
- Doji candle just after 7:00 GMT (London Open)
- First entry opportunity after candle formation (aggressive)
- Price reverse and breaks the Trendline connecting the previous swing highs (Second entry opportunity)
- Price bounces touching the Trendline (Best entry opportunity, stop below previous swing low)
- Profit taking getting closer to 00.

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