As a follow up to the pullback chart on pound which I posted, be advised that I am currently taking the pound long off 141.87. I have started this position lightly and am running 1/2 sizes of what I normally trade. We are looking to buy this up the existing trendline. In the event that this breaks, I will be off the position and either re-selling or waiting lower. I never pretend to "know" and I always encourage others to drop the impressions of self-importance when it comes to providing the amateur level of investment advice that we provide in these rooms even though we do this professionally. So- I am trading support from that 142 area as reported last night and will continue to do so until the market tells me otherwise. You guys have an awesome morning. Glad these trades worked out.
Trade active:
Ok so with the break of the trendline, that is a profit take on half that position for 40 pips and a pull to break even. Still happy with it... in order to go short I will let it sell past that area of 14187, pullback and give me a trendline break and then reverse into 14050.. Thanks guys!
Trade closed manually:
Hey everyone. I was able to pull a few pips off of this but I am not going to let the long linger. I am off pound. Now watching to see if it takes us lower. We are forming a head and shoulders pattern on the one hour.