If You're waiting to go short GBP/USD.......

FX:GBPUSD   British Pound / U.S. Dollar
226 4 1
If you're waiting to go Short GBP/USD             , the point where price 'kisses' the 60ma or at 0.5 retracement @1.61269 Could be Ideal entry points. ;0)
You hit this so dead on! I was watching it all day to see how you're call would play out. Ace of Pentacles is more like it! Now WHY is 60Ma an excellent trigger? Is there something structural about the market, calendars, bank behaviour that makes 60ma a reliable ma?
After 'kissing' the 60Ma, price rose by a negligible 0.00044 pips
before turning south and is currently 20+ pips up so far
thank you. Is there a specific reasoning behind choosing the 60ma as a trigger?
aceofswords Mercurius
@Mercurius : 60Ma is an excellent trigger on 1hr charts when used in conjunction with 60Ma's on 5min and 4hr charts ie, when price falls below ALL 3 go short and when price rises above ALL 3 go long. In this instance my calculations suggested that by the time 1hr price eventually touched 1 Hr 60Ma, 5min & 4hr price and 6Ma's would be 'positioned appropriately' ;0)
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