SEE CHART FOR DETAILS ;0)
Another Potential Long Opportunity This Time From A Retest Of 0.85796 Take as Long scalp Initially, And As Usual, Observe PA And Stochs For Exit ;0)
Potential Long Opportunity From 0.87080 - Take as Long scalp Initially, observe PA and stochs For Exit ;0)
PA Suggests that shorting from 1.43114 could prove to be a profitable trade if this stubbornly supportive level is breached convincingly ;0)
When price dips below the 60Ma on this 4HR chart, Go SHORT!
If you were patiently waiting to go Short GBP/USD, the point where price 'kissed' the 60ma was the 'winning' entry point for the trade! After 'kissing' the 60Ma, price rose by a negligible 0.00044 pips before turning south.
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)
Clearly the GBP/USD has a lot further to fall, with such a correction long overdue Even the USA budget debacle which has sent the USD lower over the last few days has not been enough to halt the GBP's decline against the dollar. The eventual resolution of the US budget crises will surely send this pair even lower. :0)
Although I wouldn't suggest selling USD's at this stage, I do think the market has its sights set at between 79.50 and 79.00 The Farce that is the 'shutdown debacle' will no doubt assist in this fall, the longer it continues. At 79.50 there will likely be a 'dead cat bounce' of sorts, might be worth a short term long but pay attention to price action, as you ...
USD/CHF Next Shorting Position ;0)
EXPECT PRICE TO TEST 60MA AND POSSIBLY BREACH IT TO ATTRACT SOME LONGS, BEFORE RETURNING TO ITS DOWNWARD PATH - I AM STILL HOLDING MY SHORT FROM YESTERDAY, JOB NOT YET DONE ;0)
Quick Bread And Butter Trade to keep us out of mischief lol ;0)
Short from 1.6249 and enjoy the ride down south ;0) This is a long term trade BTW