- Short from 0.8450, patiently awaiting further chart development to add on. Now at 0.8340.
- On the daily chart, looks like a possible SHS top being formed now. NL is at 0.8315. Will contemplate adding on to short on a closing break below.
- Both weekly and monthly remain in bearish mode in spite of having rallied from the recent low of 0.8065.
7 comments:
When this finally performs, it would be interesting to see if its due to the EUR leg or GBP strength. If it is EUR selling off, that could be an independently good trade in itself.
T: Is the instrument GLOBEX:RPU0, just observing, the liquidity is dry...
Yes it is. And you are right, liquidity in RPxx sucks. Thats why I always trade this by combining 2 legs in UROxx and BPxx. The problem with my way is that I have to put up 2 sets of margins but I think SPAN reduces it somewhat.
Liquidity in UROU0 and BPU0 is very good.
Ratio is 3 URO to 5 BP
that's what I thought - thanks for the clarification...was looking at the combo leg for achieving the pair.
My apologies .. the ratio should be 4URO to 7BP.
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