This Idea assumes the Brexit situation remains uncertain
Brexit complications have been weighing heavy on the Pound.
PM May's position is under question, and many of her cabinet have resigned.
Thus the massive leg down over the last 24 hours.
Now I am looking for a bounce to short.
Red zones should be resistance to watch for signs of reversal.
Green zones should be supports for profit targets.
Background:
I am a Dollar Bull and Pound Bear, and will remain so until BOE starts talking about rate hikes or PM May starts presenting a positive and plausible Brexit scenario.
My GU adventure started with a search for top of uptrend around Sept 20th
Then came the big drop, which I caught most of. I started looking for bounces to short
Next I was looking for 1.2700 as a bottom which was hit and bounced hard
After taking some longs on the bounce, I was looking for shorts again:
Rode it down to 1.283xx and then good Brexit news made it bull, which I caught one leg of
Well we all now what happened to bring it down. So now looking for a bounce to short again
Brexit complications have been weighing heavy on the Pound.
PM May's position is under question, and many of her cabinet have resigned.
Thus the massive leg down over the last 24 hours.
Now I am looking for a bounce to short.
Red zones should be resistance to watch for signs of reversal.
Green zones should be supports for profit targets.
Background:
I am a Dollar Bull and Pound Bear, and will remain so until BOE starts talking about rate hikes or PM May starts presenting a positive and plausible Brexit scenario.
My GU adventure started with a search for top of uptrend around Sept 20th
Then came the big drop, which I caught most of. I started looking for bounces to short
Next I was looking for 1.2700 as a bottom which was hit and bounced hard
After taking some longs on the bounce, I was looking for shorts again:
Rode it down to 1.283xx and then good Brexit news made it bull, which I caught one leg of
Well we all now what happened to bring it down. So now looking for a bounce to short again
Note
GU smacked into my possible entry zone I am not liking that it pierced above a little, watching closely
Trade active
Shorts fired.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.