Thursday, February 28, 2008
The Zion Trader Trading Analysis
CME BRITISH POUND FUTURES
The current trend is up and all orders on the long side may be considered. Market activity analysis suggests that short trades have a lower probabilty of success.
If already holding long positions, we would look to partial profits on any retracement to 1.9330. Traders with remaining long positions after profit taking should consider placing exit stops in the region of 1.9330. Be prepared for a potential short term price fall back to the 1.9640 area.
This review is not a recommendation to buy or sell, but rather a guideline to interpreting the specified analysis methods. Past performance is not indicative of future results. There is a substantial risk of loss in futures trading. Futures trading involves a high degree of leverage, which allows for large returns, but also large losses. Due to the high degree of risk you should carefully consider whether commodity trading is appropriate for you. This information should only be used by investors who are aware of the risk inherent in futures trading. The Turtle Trader accepts no liability whatsoever for any loss arising from any use of this review or its contents.
Posted by Admin at 12:46 PM