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May 10, 2009

Sunday PM FOREX 5/10/09

Happy Mother's Day to all those Mom Traders (and Hello to the rest of you)

I am looking over the charts right now, I will put some posts up later tonight about potential trades and setups. I currently am short GBP/JPY and GBP/USD for a scalp trade. I got short off the open, made some nice 'pipage' already, but I think we could a bit more in store. These long toothed trades over the last two weeks are extremely overbought, so I think some reversal type action is definitely in store tonight and this week. I will be back later tonight (when Europe opens) to post some active trade charts, and other potential setups that have developed or appear to be setting up nice patterns for us to take advantage of. Feel free to Tweet me at "Hawaiitrader" on Twitter.

Happy Trading!

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