12 January 2012

GBP/USD : Increased Short @ 1.5325

  • Suffering on short cable (at 1.5418 average) looks like it might be over. Have been squeezed to as high as 1.5674, fortunately only in small size not sufficient to induce panic abandonment of a good looking chart trade.
  • Complex SHS top looks like it is breaking down now (again!). In spite of having been tricked into pre-mature entry only recently, I have yet again stuck to my guns and increased my short position at 1.5325 tonight. (Averaging only when in-the-money, not out-of-money).

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