You want to know when to trade the £/$?
I am getting in Wed, come in too if you like!
Lehman’s terms for the £/$. If we cannot close above 1.537 on two
consecutive sessions by the end of the week, then look at a retracement back to
1.5 next week.
If we can get above 1.5375/54 for both sessions, maybe Wed/Thurs, then 1.575 is
a short term target, before bearish resumption leaps back into play.
If the 1.537 does break down before the 16th, I am placing High No Touches above
1.545, taking returns in excess of 20-25%.
I will pounce if I see close below 1.537 on Wednesday. As by then, U.S. CPI data
and Bernanke will have both shed the bright spotlight!
If on the Thursday I see a close ABOVE 1.537, and this follows on from wed, I
will be inclined to place Low No Touches as low as I can go, below the 50-day
MA, taking 20% return for 2-3 days!
As of the morning on Tuesday 13th, it seems as though the market devil has
slipped cable several opiates as the narrow range seems dire at best.
However, after Midday strikes I do see a test above 1.54, this leads me to
believe there could be upside momentum toward 1.575 this week.
However, wednesday onwards is the real test.
What about the financial indices? I am keeping this close to my chest for my
personal clients this week.
I am waiting for two levels to come into play over the next 1-2 weeks.
I have one high no touch on the S&P trading right now, but this will be up for
expiry shortly.
Have a great week!
Matt $haw
Mr. Fixed Odds Trader
www.fixedoddssuccess.com
P.S. www.fixedoddssuccess.com to get in on my latest trades right from Tuesday
Click on; Become a Member
