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buff · 24-09-2004, 22:36

GJ,

Agree totally with what you wrote. If you looked at a large hourly chart on this pair going back until at least the beginning of the year, you would see a very nice trending pair, especially if you compared it to the EUR or the JPY. Doesn't seem to have as many of those big spikes the other pairs have.

Also with a favourable spread and not being directly affected by the USD to a certain extent, it makes sense to trade it.

At the moment, after the news release on Friday, it did manage to head up again but didn't break through the previous high of 136.55. There may be a double top in the forming and I am certainly looking for a cross down so I can go short. Only time will tell. Cheers.

24-09-2004, 22:36	#5 (permalink)
buff Go the Reds....please Join Date: Mar 2003 Posts: 798 Rep Power: 0	Agree GJ, Agree totally with what you wrote. If you looked at a large hourly chart on this pair going back until at least the beginning of the year, you would see a very nice trending pair, especially if you compared it to the EUR or the JPY. Doesn't seem to have as many of those big spikes the other pairs have. Also with a favourable spread and not being directly affected by the USD to a certain extent, it makes sense to trade it. At the moment, after the news release on Friday, it did manage to head up again but didn't break through the previous high of 136.55. There may be a double top in the forming and I am certainly looking for a cross down so I can go short. Only time will tell. Cheers.