13 February 2013

EUR/GBP : Poker Game

  • Downtrend line around 0.8620 first broke hard (!) 2 weeks ago. Last week saw a sharp pull-back below TL. And currently, a sharp and equally powerful reversal of last week's re-entry.
  • This kind of rough price action should have cleaned out almost all weak hands by now. The bulls have the ace in the hole. My expectation is that we try for 0.9000 from here. 
  • Trade : Have been steadily legging into this these past 2 weeks.

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