Gbp/Usd – Trade Plan based on Japanses session moves – Sep 6

September 6, 2010

Initial high/low are 1.5467/1.5433. The initial high was cut soon after the recommended observation time, and has stayed above for more than 30 minutes. If this is the extended move, then the 3rd level should be around 1.5495 area.
Trade Plan:If price is close to the high towards end of Japanese session and gap time, then I expect a spike (typical move), and price to retrace. Therefore, I would

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