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Posts by "montmorency"
678 Posts Total by "montmorency":
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Posts by Anonymous "montmorency":
Alternatively expressed could be "Short down to 1.38/39" then go long ..." (for anyone not already long and whose account doesn't allow them to hedge... :)
Long term I'm personally bullish Euro, bearish USD, but short term seems different.
I suspect you are right about what the US really wants. I suspect the UK really wants a weak GBP too. Race to the bottom... ;-) (What makes cable such "fun"...).
Obviously a typo but I can't work out what you really mean.
(mind you, make sure you don't buy any of that fake stuff...)
:-)
Could it get down to 0.8660 in the near-ish term?
Looking at the daily chart for cable, do you think that it will have to get down to the lows of Friday (1.6210 or so) today to confirm its downward turn? (or if not today, then soon)?
On my chart I have converged EMAs 200 & 150 acting as resistance-turned-to-support, which today would be around 1.6220, which it would have to break.
There would seem to be plenty of downside potential below there.
We have to understand that losing is part of trading, just as much as winning, and not take it badly.
I've had 4 losing trades (AUD/JPY and EUR/GBP - 2 of each) in the last week or so, big enough to hurt, not big enough to kill me, but painful because (probably) avoidable. Hope I've learned some lessons out of it. What is difficult is to resist the temptation to "revenge trade". I'm keen to climb back on the EUR/GBP horse. Every time I think "surely it can't go lower...", it does just that. However, ~0.8700 is looking like a bit of a floor.......thoughts anyone?
("Disclosure": my judgement may be biased, as I _want_ it to go this way :-) ).