"Forex trading could be your key to financial freedom if you could consistently earn pips and at the same time realising the power of compounding".- Harwin Poon


6.14.07 Part II

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The last chart I have posted is a 4hr chart, this one is the 1hr chart. Just as I thought, price nearly touch the 23.6 fibo twice and bounce exactly at the middle band.

If you have a open long hedge positions, you can close it now (10:30am EST), price just touched the daily ATR and a trendline, Stoch shows overbought, CCI too high and ADX shows bull losing momentum.

TN account closed with $51 profits.
PMTFC account close with $14 profits.

For now I will wait for a dip and enter with same size margin of the closed positions. Probably at the previous resistance (red) trendline which now became a support level or lower to 1.6550 where the middle band is right now with confluence with a lower trendline. We'll see....