03/09/09

Probable Net Trend for the Next Few Trading Days

Dual Time Frame Momentum: With the (8) daily bullish and (34) 60M DTosc's bearish reversal, the net trend should be sideways to up over the next few trading hours/few days. Wait for second bullish reversal for entry.

Pattern: 1 Sept is in the position to be a W.5 or a W.E low.

Price: A rally above the 2 Sept high at 1.6299 signals a W.5 or W.E low should be complete.

Summary: With the (8) daily DTosc bullish and a potential W.5 or W.E complete, the net trend should be uptrend.

GBP/USD Swing Trade Strategy
Long following a rally above the minor 2 Sept high as long as the (34) 60M DTosc is not BullOB or Bearish.