Right now the pound seems to be getting some strong resistance at 1.9720.
It has approached twiced and bounced off so far.
It has approached twiced and bounced off so far.
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Quoting TushDislikedLooks like 1.9729 is a strong resistance level yet to be broken. Look back at the high high on 2006/12/08.
I've been Long since 0806GMT. I might take profit now and wait until after the news.
In my amateur opinion, I think if this, 1.9729 resistance level, is broken, then it's time to go long. Otherwise, go short.Ignored
Quoting TushDislikedAny strategies for going short?Ignored
Quoting TushDislikedMy strategy here is to go short as soon as it crossed the Pivot line down.
Currently cable has bounced of the 38.2 mark, 1.9627, on the fibo retracement line drawn from today's high to the low on 2006/12/11 at 0200GMT.
I'm going to stay short for now and see.Ignored
Quoting TushDislikedDo you mean 9640 as opposed to 9740?Ignored
Quoting LifecycleDislikedThat return to the 38.2 is almost toooo precise... Are we revving up for the next upward move?Ignored
Quoting GeldmeisterDislikedHey Tush, careful with that Bago signal, it's news triggered and if that reverses you got a typical false breakout.Ignored
Quoting Qu|cksilverDisliked<TABLE class=tborder cellSpacing=0 cellPadding=3 width="100%" align=center border=0><THEAD><TR><TD class=alt1 align=middle>USD</TD><TD class=alt1>Core Retail Sales m/m</TD><TD class=alt1 align=middle>http://www.forexfactory.com/forexfor...sc/mi_high.gif</TD><TD class=alt1 align=middle></TD><TD class=alt1 align=middle>0.2%</TD><TD class=alt1 align=middle>-0.4%</TD></TR></THEAD><TBODY></TBODY></TABLE>
I just entered my short at 1.9708
This news will push cable low.. let's see..Ignored
Quoting TushDislikedThanks GeldMeister,
You're right: it's news triggered.
However, I didn't trade on the Bagovino signal. I traded once it got past the Pivot line.
I suppose, in all fairness to both your point and my maxim to never trade news, I should have not traded on the pivot line and waited until it crossed my 38.2 fibo line at 1.9626.
But, now that I'm short, I'm going to wait and see.Ignored