Ok so we've been range bound from from October 6th between the 1.51550 to 1.55200 level, yesterday we had a huge drop on the Pound probably due to a dovish Draghi. However we now hit a critical level on the Pound we broke it yesterday but look how we are testing and bouncing off the 1.5390 level happened twice (double bottom). If you look left you can see this was a key breakout level on October 10th.
Go long now take partial profits along the way and keep this baby open for when Yellen starts talking dovish next week. If this fails ill be looking for further entries @ 1.52600 & 1.51550. My goal is to position myself with a nice cushion for the Yellen speech.
Thanks guys! I'm still learning but please feel free to check out my other ideas!
Go long now take partial profits along the way and keep this baby open for when Yellen starts talking dovish next week. If this fails ill be looking for further entries @ 1.52600 & 1.51550. My goal is to position myself with a nice cushion for the Yellen speech.
Thanks guys! I'm still learning but please feel free to check out my other ideas!
We are looking at some support on the hourly at the 1.53320 a key level on my chart. I took a long @ 1.53320 to be honest I did not expect as much deceleration @ 1.53320 as we are getting.
Lets see how it plays out.