New entry for 30/04/2010

Salam and good morning boys and girls! Okay here it goes. Again i took a risk againts the current trend (bullish). This is because of the overall trend is still bearish. And GU failed to break the 1.5390/400 area (support became resistance). Plus news for Euro are not getting better, beside Greece, Spain and Portugal, Italy and Ireland is joining ranks with them. There is a high probability that both of this country also going to be downgraded which will lead to weak euro and off course when this happen it will drag cable along. This time i use minimum risk and 100 pip SL will be placed.

Friday 30/04/2010
Trade GU, SELL at 1.5334. (Support and Resistance)

I might be wrong, but i do believe shorting is a better option compared to long. lets see what will happen.