Apologies again for the break in transmission, work took me to Turkey for the week and I did not have a good enough connection to trade or blog on the move. While I was away, the big break has clearly started I am pleased to see that it broke to the short side which is what I favoured, but less pleased that I missed the entries on Cable and Yippon. However, I did get in on Tony and have just opened my second position, below. This is now free falling into the abyss that I described earlier, and it is now retesting the low at 1.6120. If it can break that low, I believe it will head on towards 1.582 and ultimately retest 1.5097! I aim to try and hold on to this for as long as possible and have already moved my stop losses up to break even and will start to lock in profit as this pair continues to fall. I will be adding a further short position on a 1 hr break of the next significant support at 1.612
Similarly, with Yipppon, I know I have missed the entry I advertised in my last blog (500 pips ago!), but I am keen to enter short and will do so on a break below the support at 134.66, again hoping to fall into the abyss on the way down to 118.69!! This will be a small position initially, as I also want to jump on the band wagon with Cable....
Cable,
This has been in a good downtrend for some time, and now appears to be gathering momentum. I want to be short below 1.50 97, and ride it towards 1.43950
As I have been typing this, Cable and Yippon have smashed through resistance, and I am now short on both.
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