Going for an entry after a few weeks of avoiding the market.
DXY looks like it's retesting and going to weaken.
Sell USDMXN at 22.7597 (now) -> sl: 22.9584 tp: 21.5089
SL = -198pips
TP = +1,250pips (large/wide TP *for now)
1.00 Lot =
SL = -$872
TP = +$5,489 (large/wide TP *for now)
Roughly 40% risk on SL hit.
We've entered knowing the factors above.
buy USDCHF -> sl: 0.96134 tp: 0.97596 (small lot)
-42pip SL (1.00 lot = -$438)
+103pip TP (1.00 lot = +$1,076)
**HOWEVER** **we** may have to drop SL lower, so act accordingly.
BXY potential weakness coming this week.
DXY looking like it will gain some strength off the support trendline this week.
However we do see the potential for GBPUSD to break to the upside for one more leg first!
We have entered with our standard "small lot" (0.05 per $1,000 balance), however you may want to consider going half of that....
DXY -> Strength
EXY -> Weakness
We entered yesterday and are sitting at roughly +42pips profit.
Still potential for a breakout to the upside, this would require something big with either the US or Europe (very possible) with the ECB's "announcement" coming soon.
Rate cuts will continue this month. Likely going negative.
Can join us now or wait on further...
Our short was executed perfectly with 215+ pips locked in.
But now where is GPBUSD going?
If we take a look at BXY (GBP Strength Index) its rather unclear, we have a bias to say that GBP should fall with the brexit dealings.
Take DXY (USD Strength Index) however and we can see a clear path to weakness.
What we think could happen is a 2-5day drop down to the...