Quote:
Originally Posted by 4xStar
She's taking a day off today but overall looks like she will at least tag that 211 mark and then I still hope for the deep correction. If she continues to 213 & above, there needs to be more momentum than we see now.
Cable is probably holding her back and I don't follow the fundies just price action, so not sure if some sort of news is weighing cable down, on the daily it looks like it could retrace further which may mean the G-Y is not going to get a high momentum breakout or trend reversal just yet...
But I am just rambling because I am bored waiting for the only 3 pairs I trade to do something.  |
Bernanke's Dollar Bulls following has got the GBP/USD nice and suppressed in the near term.
I put my money where my mouth is and shorted GBP/JPY at 210.00. It's a divergence play for me now. Intermarket divergence with the US stock indexes, and a stochastics divergence on the 4h. I have a small stop of 70pips, but am aiming for much much more than that. I'll still watch to see if it can break through 209.00 again after holding above it for a few days.