GBPUSD: "Project Re-Short" - Donation to the UK
I just re-shorted the GBPUSD pair.
Fundamental Reason:
I expect the UK to cut rates this week or do some QE. Anything to help their economy, whatever it is...a lower UK dollar will benefit them.
Thus, let's all help the UK's currency go lower so that with a lower currency it will help their business thrive. Lol!!!
My stops are above the previous high. and my target is around 1.28, 1.27 and 1.25.
Fundamental Reason:
I expect the UK to cut rates this week or do some QE. Anything to help their economy, whatever it is...a lower UK dollar will benefit them.
Thus, let's all help the UK's currency go lower so that with a lower currency it will help their business thrive. Lol!!!
My stops are above the previous high. and my target is around 1.28, 1.27 and 1.25.
Comment:
Oh.. and if I am stopped out before the rate decision.. I will re-short again at 1.3645 or lower.
Comment:
The news will make or break this trade:
www.911myths.com/htm...and_the_pentago.html
www.911myths.com/htm...and_the_pentago.html
Comment:
wrong link! Here:
Comment:
GBPUSD is kicking my butt, but it is fine. I have another position to enter short.
Plan: Short at or below alternate sell zone BEFORE THURSDAY on the assumption that the UK will lower rates. If I am right and it goes my way, then hold SHORT GBPUSD and ride it down. If I am wrong and the UK raises rates or does nothing, and the reaction after a day is positive, then exit trade and re-evaluate.
I still am short part of GBPUSD... shaved off some risk.
Plan: Short at or below alternate sell zone BEFORE THURSDAY on the assumption that the UK will lower rates. If I am right and it goes my way, then hold SHORT GBPUSD and ride it down. If I am wrong and the UK raises rates or does nothing, and the reaction after a day is positive, then exit trade and re-evaluate.
I still am short part of GBPUSD... shaved off some risk.
Comment:
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
