S&P
Nothing new to really report tonight as the markets did essentially nothing. However this may actually lend itself to supporting the idea that the wave 2 uptrend is severely running out of steam. It seems that volume and momentum are receding every day at this point, while optimism as seen on CNBC rises. It's just a matter of whether or not the bears will come in and take advantage of this exhausted uptrend or not. I believe they will. I remain short term bearish the S&P; wave 3 is just around the corner, and starting from around current levels is likely.
EUR/USD
Unfortunately the last half of my EUR/USD position was stopped out at 1.5630 at a 60pip loss. Earlier I closed half the position at a 50 pip profit, so that makes the entire trade a net loss of 10 pips.
GBP/USD
The GBP/USD short position remains intact with an entry at 1.5555, and a stop in place at 1.5560, risking a total of 5 pips at this point.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.
3 comments:
Hello Todd:
I understand what you had a loss but not in the value of the article.
We are not more in 1.56 of eur/usd.
Regards:-).
Hey thanks for that pal! :)
Todd
This is because I pay attention at your posts:-)
Gustavo.
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