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I went ahead and got short, I might have pulled the trigger too early, would not be the first time. However, I think your 1.6050 is a good price target as it was an area of consolidation. Cable got a big head start on the Euro with this run up so it may be the first to start moving down. That's just my two pips!
Are you in anything now?
You got a good entry mate - let hope it continues lower. I will see if I can scalp tomorrow morning - if the 1.6125 level hold I will go short.
Just keeping my MXN/CZK open - I am also long the SWE30 but this is a long term position - I hope to close with a 30% gain in January (unleveraged position).
the RED's kinda forming a canopy like pattern and question @Greg and others... Does this qualify for any sorta pattern.. I'm not sure and if it is, what does it represents..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Price is clearly trading lower and even created a double top this morning - we will probably correct part from these losses but it would surprise me if we do not reach 1.6025 level as long as we trade under the 1.6125 highs.
1 hr time frame
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