Veritas Blog
Daily setup on Cable
by: Alan Kingdon on 08-09-2010
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After some time away from the markets ease yourself back into trading slowly. Look at the longer time frames for trends and an indication of currency strength.
We can see today that on the daily chart of GBPUSD the price action is trending down, this indicates weakness in the GBP and strength in the USD. Record this data in a table and at the end you will be able to identify which currencies have strength and which have weakness.
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