FOREX Trading Review Video 28 APR 09 GBP/USD : Bullish Engulfing Pattern

http://www.fxtrainingzone.com :: GBP/USD long trade based on momentum from EMA / FIB lines / candle pattern explained. Reasons for trade:

- Strong Bullish engulfing candle close on the 4H, which closed below previous resistance.
- Price failed to push lower on the 4H time frame, and close below 1.4560.
- Price action found support off the 23.6 & 200 moving average on the 4H.
- Large belt holding candle on the 1H which confirms momentum.
- The daily chart found support off the 89, together with price action placing a higher low - clearly indicating an upward movement.

Any questions please ask.

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[sionsmith]

If there are any areas you would like me to cover in more detail in my next video then let me know!

cheers

[relat1]

I don't think it will be bullish , it is bearish , soon you will see it is bearish within few days later . thanks

[sl0wik78]

Cheers!

All the best!

[oadramos]

Thanks for the video... Oliver

[mgryga]

Hi

Very good vid.

Thank You.