1.45 is nigh for cable!
I need you to watch the 1.495 level in the £/$.
Cable is hanging on with one hand. After selling off below 1.488 this morning, it is now trading back at 1.4935 at Midday.
Even when this market is below the 1.495 line, it seemingly cannot let the zone fade into obscurity.
Unless we see a solid push below 1.485, then I think a retest of 1.52 could be seen within a week.
Failing that, and for that scenario the probability remains higher, we could see a push below 1.45, as soon as 1.485 breaks down…With me?
The market can play games. Trust me, I know, and I am sure you do to. It can touch a level we are waiting for, but traders also know this could be a level that is closely scrutinised.
There are only so many trading levels that can interest a whole bunch of traders, so games have to be played!
Top traders will shake out the lame ducks, in order to take the price to a new level, albeit lower in this case. (£/$ 1.495)
Crafty traders will want novice traders out of the workshop just before a fall.
If you sell a stock, then it sinks and rallies back, I am sure you will want to jump in on it again at the level you sold at? I would, it would show great character of a stock, or indeed market price.
This will occur in the £/$, just after 1.45, or even 1.4 is seen.
If the Tories gain power, would it make sense to join the euro at around 1 euro = 1 pound?
The price advantage for UK goods and tradable services could be sufficient to expand exports for our exporters. Most Tories have ruled this out and this remains a leading policy for Tories – Keep the £.
I would see a rebound of sorts after 1.4 is breached, but certainly parity or even 1.1pound = € by summer.
We will be lucky to keep parity and happy to see current levels where they are right now. A strong rally should be seen after May.
Short term, I am capping any gains beyond 1.52 for £/$ and seeing this market all the way down to 1.45 by the end of month and into Easter.
For trading any trade, please realise that the market can trigger a signal, but then reverse a little bit toward the end of the session, thus the market not trading beyond the required leverage, meaning that I miss out on a trade, that was actually triggered earlier on that day.
I only wait, because it is toward the end of the day where traders come out and really let out their emotions, because they do not want to be left holding any buck over night.
If the trigger is still standing, within the last two hours I will place, if it fades then I leave.
On the other hand, if the market aggressively takes out an MA at the beginning of the session, say by 130-140 Dow points, and is continuing to fall, I will jump in and place, no matter what the time.
Sometimes, even with a clear signal, you will be wrong. Don’t forget odds change and sometimes BOM tighten up!
Of course you will get the odd loser, so if you did place at that low point on Thursday 25th, this would have been your loser. It happens, but over the time the strike rate will more than make up for it, big time!
I just like to give the strike rate a helping hand now and then;-)
It is all part of the game. As long as there is time ahead, we are in the game and it carries on.
We’re still in the first half of play…
Now, there don’t seem to have been any new opportunities since I last got in touch, i.e. 3rd/4th March.
However, there have been chances to place range trades. Just look at the markets, in particular the Dow and S&P
The Ftse is now trading above its previous high (19th Jan 5513), so that is out.
However, the S&P and Dow are both still between their highs and lows. However, after today’s (Tues) session they are now within 200 Dow and 20 S&P points of their previous highs.
Everything apart from that one little rule does apply a range trade for these markets.
We just need to see the Dow trading back below 10525 (prev high of 10725, 19th Jan), with the S&P back below 1130 (prev high 1150 19th Jan) for these markets to be warranting range trades.
If this does happen, you will NOT have to wait a further TWO weeks for them to trade between the previous high and lows to trade them for a range, because they have not fallen outside the high&low parameter.
Only the Ftse has done this since it surpassed its recent high of 5513, and is now trading above 5600.
The S&P and Dow have simply gone beyond the 20 and 200 points (respective) limit of the high and low. In this case, it is the HIGH.
This means that as soon as we see a dip back within the 20 S&P and 200 Dow point limit from the recent high, these markets will be range bound once more. Before the pending April fall that is;-)
Expect a bumper issue next week. I will be forecasting my market opinion for the next month, and showing you two trades, that I may even get wrong. But rules are rules, so I should be ok.
Email me on: fixedoddstrader@aol.com, if you would like to receive future audio alerts every fortnight???
I am trading tonight, so get in now if you want to catch the start of my trade selection: www.fixedoddssuccess.com Audio’s weekly!
Have a great Day!
Matt $haw
www.fixedoddssuccess.com
P.S. Are you in for Vince Stanzione’s trading Day? Click this link: www.milliondollartraders.tv and buy now. I will send you my new course or the cash equivalent and even put you down for 3 months worth of Elite Trades… www.milliondollartraders.tv
P.P.S. If you want to earn a guaranteed minimum of 5-6% per month on 1m Euros, via a private placement programme then please email me urgently today! fixedoddstrader@aol.com Note ‘1m euro deal’ in the subject line.
