Hold SHORT aiming for 171 and beyond (Cons. Tri.)
That was a small waiting period from the last idea (I stretched out my SL, now placed it at a TP stop). The SHORT happened around the GBP news that the net public sector borrowing is NOT as high as expected, meaning that the gov't stepped in a bit. Combine that with the poor USD new housing and we got the LT consolidating triangle.
Continue to HOLD SHORT for the following reasons:
1) No news from GBP, JPY, or USD until tomorrow morning PST (USD Core Goods)
2) that consolidating triangle (the masses seem to like that idea and over took the LONGs)
3) Danske's TP stop was taken out at 171.4, from their LONG at 169.9
4) MACD crossed at zero
Confirmation of SHORT would be to get past the longer MAs
Watch out for:
1) RSI coming back up
2) NZD's official cash rate and statement later today.
Continue to HOLD SHORT for the following reasons:
1) No news from GBP, JPY, or USD until tomorrow morning PST (USD Core Goods)
2) that consolidating triangle (the masses seem to like that idea and over took the LONGs)
3) Danske's TP stop was taken out at 171.4, from their LONG at 169.9
4) MACD crossed at zero
Confirmation of SHORT would be to get past the longer MAs
Watch out for:
1) RSI coming back up
2) NZD's official cash rate and statement later today.
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