Registered: Oct 2005
Posts: 558

Short at 1.2050

Doesnt seem to be a lot of follow through here, on the long side.
Also, bearish divergance on the hourlies.

Registered: Oct 2005
Posts: 558

Added to my positional short at 1.2020

Looking for 1.1975

Stop is at days high 1.206

Registered: Nov 2004
Posts: 30

I agree with your shorts. WIth all the anticipation around the tech significant 1.2050 level I would have expected more 2 way action up there with option knokouts and such...somoe trying to protect and others trying to run it. ISM was a suprise that caught many off guard. I also went short at 1.2042 after the figs. Doing some fib retracements from yesterdays low or a bit lower if you use this weeks low I am looking for 1.1997 or 1.2005 then 1.1978 or 1.1988. If we stay offered below there then 1.1960 or 1.1972. Good luck. Beware of the crazy ivan to take out the 1.2052 highs though if was start to get back above 1.2035 ish. Be nimble

Registered: Oct 2005
Posts: 558

I think the retracement was just a bounce off the psychological 1.2000 level, it must retrace there again, i think.
Am looking at the GBP/USD, a 15min close below 1.7530 negates the recent upmove.

Registered: May 2002
Posts: 3613

Who isn't short or would only go short at this point, besides those who were long from far below? I would take that into consideration.

Registered: Nov 2004
Posts: 30

I ended up taking back my all my shorts the first time down... 4 at 1.2005 and 4 lots at 1.2009 now I'll wait and see what happens at 1.2035 (upside continuation?) or 1.2010( another downside break?). Why dont you use a trailing stop to lock in some profits instead of risking the days highs. Always frustrating to turn a winner into a loser.

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