Friday, July 15, 2011

Quick Update

It will be a quick one, again :)

GBP/USD

Cable resisted at 1.6200 still....
Yesterday I queue to short at 1.6160, but order was not filled.
This morning GBP/USD crossed above 1.6160 and I am thinking twice...

Lets look at Daily Chart, the pattern repeat... and... should GBP/USD continue to be suppressed under 14/7 high 1.6192, or it is gonna make a false break to 1.6280 and come down?

I am hunting for the next Big move, I am getting excited since yesterday, and observing my patience... I want to catch the fall like last round at 1.6450.


It is Friday, and today is a crucial day, I reckon the market to either:
1. resisted below 1.6200 or;
2. form another top near 1.6280,
then close below 1.6030 to form a another bearish candle on weekly chart, daily chart, and next week a continuous pattern.

I hope it is today, but not Monday.

Observe intraday chart for the shorting opportunity.

CL

Trading the August Contract and covered short @ 9546 happy with 300 pips / cents, leaving with 1 open position.
Queue to short again @ 9610, SL 9656, TG 9386.

p/s:
The moment I finish this journal, I actually ordered to sell GBP/USD at 1.6255, SL 1.6287, TG 1.6002.

4 comments:

  1. Excellent entry/exit on CL. You caught that big down draft!

    ReplyDelete
  2. SOulfire, are you the same person here?
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  3. @Ayumi

    That is correct- that's my other website. =) I do most of my general blogging there.

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