The Big Squeeze, Not Freeze !

Good Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = GBP : 60 min Chart (Posted Below)

Long Term Trend = Down : Short Term Trend = Flat

Firstly may I congratulate Hina on winning last nights competition, a job very well done, you did brilliantly , well done.

You would have got up this morning, read my blog, looked at the charts and thought "Missed It"

I mentioned on my blog that after 2 bear days we might see the bull upto the blck line I drew for you on the chart. The good news was we almost touched the line with an upmove of 213 pips. The bad news was at 0830 hrs this morning, the move had finished. So unless you are a late worker/learner you would of missed it.

Tonight I have placed the 60 min chart for you to look at. I have done this for a couple of issues. Firstly I want you to look at where MACD crosses below the signal line on the 9th January. Then 6 days later the MACD crosses below the zero line. If you check the EMA's you will see they crossed at the same time.

Since then we have had a steady decline in the price, having been in an uptrend previous. Remember we would not have these EMA's on the chart however crossing the zero line indicates possible change in the trend.

I have placed a support and resistance line on the chart, which gives us a declining triangle / flag which is being squeezed for a BOB.

Stochastics are showing OB and those from the webinar will be waiting a BOB and using ESLT as your entry to the trade. Remember the stronger trend is down.

As always, do your own analysis before entering tyour trades.
















Courtesy of Advanced Get / E Signal

Trade with Passion & have Fun
http://uk.youtube.com/watch?v=LiE1VgWdcQM&feature=related

John Maher
Forex Analyst