Today, May 17th 2010 in Asian time, GU pair (Cable) still pressing down. The main trend is still bearish. Cable through 2 years low record. We must enter the market carefully.

When market was open in Asian session, Cable got pushed down quite hard. It’s continue the bearish movement. I’m a little bit lucky, I enter the market with short position. It’s only take 10 minutes and position was closed with 101 pips.

When Cable go through the 2008 low record and reach 1.4521, it bounching back up and made correction. The Candlestick formed Doji Candle. It’s a bottom reversal pattern. But we still have to wait for another confirmation candle. I choose to wait and not enter market, wait for the best time to enter.

Pict of Doji at May 17th, 2010

Doji

Related posts:

1. Profit ended with bad trade
2. Weekly Result, May 17 to May 22, 2010
3. What a week
4. My Trading Rules
5. August 9, 2010