We are seeing strength in the aussie basket as of yesterday and that is helping this trade which we entered into off of the resistance level at 18445. I have set a target for this at 18130 which is a higher timeframe target support level. Our pounds are seeing some strength, so keep in mind that you are seeing the last half of this move if we get it. I have been watching the price action mid-morning during my equities session and am noticing the lower highs lower lows. So, I'm very happy with this trade. I've been a bear for a while and am looking for 18130. Thanks and have a great Tuesday!
Trade active:
Ok A quick update on this one guys... My latest add on this position was from 18369 and I added one more with the break of the channel, which I have since removed for 50 pips.. I have taken three off this for a total of 429 pips and at this point I am just pulling the other half of it to break even and moving on with other entries tonight. looking for 18130. Otherwise it will come off. This trade should not have been news to anyone who trades with me during NY because it came in during NY on Monday at that 18445 level and it's taken about 36 hours to situate it... which is fairly quick but it's a high ADR so if I'm correct on the direction, typically I can get a trade to move out and leave me alone, set and forget and move along. Pound aussie, pound nzd, and pound yen are really good that way. OK more later!
Order cancelled:
Recognize that we are at Pre-brexit resistance levels and that your pound pairs (all the way around have potential to break out higher) These are exceptionally pivotal areas for Pound usd, pound aussie, pound canada, and pound yen. It is a simple process of normalization, but it's sometimes difficult to come off such directional shorts and reverse. Learn to recognize your pivot points and your price action. These pairs can break higher. I have had great trades on these pound shorts and am grateful.