Month, quarter, half fiscal year-end drawing to a close
After having taken partial profits 48 hours ago and a little more ahead of this end of week randomness, I have about 1/3 left of the original trade.I will trade the clock today as we still
have a few fixings left to go and I don’t know where they will lead the price. In the meantime I haven’t seen any fundamental or data news to abandon the trade,indicators had time to
stabilise.Hence I am looking to go in again, preferably as close as possible to 1.1850/75 but the market will decide.Since the trade is deep in the money and to guarantee a profit,
I will abandon through 1.1915 and possibly reverse looking at the 4 hour chart resistance and cloud, but that may need some fresh news and impulse .
- Wait for 4 pm London time after the last fixing to re-instate
- Levels to watch 1.1820( 55dma)-1.1860(acceleration)-1.1880(tl resist) topside
1.1775-1.1740(top of the daily Ichimoku cloud)-1.1680(50 fib of the whole move higher).
- I will sell 1/3 at market
- I will sell 1/3 1.1865/80 or sell 1/3 on break sub 1.1775
- If all goes according to plan , tp 1/3 at the top of the daily cloud 1.1740, tp 1/3 at the fibo level 1.1680
- Let the rest run till the bottom of the cloud , 1.1530 today.
Have a splendid weekend and