Ciba
Short

OMG, still HOLDING SHORT (busted 200MA, needing to must 400MA)

FX:GBPJPY   British Pound/Japanese Yen
50 2 0
It's "not-wanting-to-do-anything" Friday, where I try not to open up new positions. I will HOLD SHORT and TIGHTEN TP for the following reasons:

1) Silliness that is Putin and the fact that signing an int'l accord means nothing for him. (still faulting some private corporation in Germany for training the Russian troops)(Congrats to the Baltic states for jumpstarting their energy independence)
2) Price has broken the 200MA
3) CCI triggered with an RSI triggering off of that generally placed bearish trend I had up yesterday
4) Great GBP retail data seemed to have been blown by bad GBP mortgage data. Both data points are released monthly. However, bad housing data has been kinda global, i.e. USD's new home sales, of which was part of that huge SHORT on Wednesday.

Still aiming for 171 and beyond, but:

1) the LT             consolidating triangle is getting really tight.
2) Danske revised their technical points last night and supposedly bought in at 171.8 with SL at 170.8.
3) Further, the CCI/RSI tandem signaled LONG.
4) Then a two-day bullish Gartley formed? (I kinda see points 1, 3, and 5).
5) And lastly, that 400MA just doesn't want to give up.

I really do not want to open a new position, so I'm going to go with the market in its feelings of being risk adverse. DJIA/SPX were down this morning, Nikkei was down last night. Tighten TP, watching whether RSI will break that bearish line.
Ciba
2 years ago
That's "bust", not "must" in the title... =P
Reply
Ciba
2 years ago
H&S formation? Break the neck line.
Reply
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