Short at 1.2050 Doesnt seem to be a lot of follow through here, on the long side. Also, bearish divergance on the hourlies.
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
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.
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.
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.
Cosed all out for 1.2020 for lack of follow through. Am looking to short anywhere near the 1.2080 level, which is cast-iron resistance - cant see that going on the 1st attempt.
Did you short? I wonder where "energytraderus" ran off to. The guy telling us the dollar was headed for the abyss again.
Yeah I shorted sunday at 1.2080, and closed out at 1.2014. I guess I missed a big move. Oh well, I will learn for the future. I think if you take regular profit of 40 pips, its better than waiting for a 150+pip move as the number of times you'd get stopped out isnt worth it. Am looking to find a way back in. Just shorted USD/JPY at 117.7, looking for 117.