Shorts on a break of 1.2200, then it's the 1.1900, after that it's the abyss. However I might give a pound a chance to save itself if it goes sideways at the 1.2200 area.
This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates.
Just because price has reached my area of interest does not mean I will open a position unless I specifically mentioned I would open a position there. I would normally watch the price action before deciding.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates.
Just because price has reached my area of interest does not mean I will open a position unless I specifically mentioned I would open a position there. I would normally watch the price action before deciding.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
Comment:
Since the support broke, look for a retest of the now 1.2200 resistance to go short targeting that 1.1906 low.
Comment:
Wednesday
Still waiting for a pullback to short to the 1.1906 low.
Still waiting for a pullback to short to the 1.1906 low.
Comment:
Thursday
Minimum pullback done, still looking for price to fall to test the low.
Minimum pullback done, still looking for price to fall to test the low.
Comment:
Friday
Pullback was deeper than expected, but no damage done to the bearish bias, still looking for price to reach that low.
Pullback was deeper than expected, but no damage done to the bearish bias, still looking for price to reach that low.
