DislikedI think that it is going to retrace over the next week, then have another attempt at 1.3666.
This is NOT a recommendation to "short" this market but rather look for a lower place or price to buy in.
I am currently out of the Market and waiting....
In the last week I have read some excellent books. I have highlighted the salient points:
Jesse Livermore: The Worlds Greatest Stock Trader by Richard Smitten
1. Don't Lose money
2. Always Establish a Stop
3. Keep Cash in reserve
4. Let the (Successful) Position ride...until you have a Clear Reason to Sell.
5 Take the Profits in cash...and place 50% in a separate account
Lessons From the Greatest Stock Traders of all Time by John Boik
1. Trade with the Trend
2. Cut Losses short
3. Let Profits run
4. Manage Risk
How Legendary Traders made Millions by John Boik
1. Understand the General Trend of the market
2. Use the Knowledge of History in your Study and Observation of the Markets
3. Use your Own Research and Don't Listen to Others
4. Buy the Leaders
5. Buy only on Breakouts and Use a Pyramiding Strategy to add to those Winners
6 Cut Your Losses short
7. Hold on to your Winning Positions until Classic Sell Signals tell you to unload your Positions
A very productive 4-5 day reading session.