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GPB/USD in the Bermuda Triangle

Posted on May 20th, 2008 at 12:35 PM

I have drawn a Gann Box around the most recent British Pound/US Dollar currency pair on a daily chart. A good portion of the price action lives in the botton red triangle area of the box. I will call this area the Bermuda Triagle. When a security is trading in this area of the box it can be said that the security is in a weaker position.

There is a Advanced GET Stochastic sell shaping up on the daily chart. Once the stochastic becomes overbought and should the price action find weakness at my down 1 x 1 Angle (perhaps at the 1.985 price), I might be interested in looking for a way to get triggered short.

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