GU retrace then down more
Updated
GBP econ news was not good.
Extended down move to 3.618 extension - very bearish sign.
1.4000 psych number, plus Monthly Pivot stopped the fall.
Expecting a decent bounce, even though it has not been vigorous yet.
Will be looking to short at 382 retrace.
Hoping to catch continuation to 1.375.
Have NOT entered yet. Will be watching for the bounce and then weakening to enter.
Extended down move to 3.618 extension - very bearish sign.
1.4000 psych number, plus Monthly Pivot stopped the fall.
Expecting a decent bounce, even though it has not been vigorous yet.
Will be looking to short at 382 retrace.
Hoping to catch continuation to 1.375.
Have NOT entered yet. Will be watching for the bounce and then weakening to enter.
Trade closed: target reached
Target hit. Never got the retrace to add more shorts, but oh well.
Have now closed most of my shorts.
Have 10% still riding, looking for 1.30 as final target.
Here is my new plan:
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