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Posts Tagged ‘@0.8860’

(At this point it doesn’t look like this will trigger) We doubt it goes much higher today as the market has already tripled its average daily trading range of 100 points, but we will happily be waiting to sell into this parabolic move, should the rally continue to extend up towards next key resistance by 0.8865. The overall trend is still net bearish and we would expect to see some formidable resistance in the 0.8865 area should this level indeed be tested. This would give us the opportunity to take advantage of violently overbought intraday readings and establish a short position back into the overriding downtrend. STRATEGY: SELL @0.8860 FOR AN OPEN OBJECTIVE; STOP 0.8935. RECOMMENDATION TO BE REMOVED IF NOT TRIGGERED BY NY CLOSE. POSITION SIZE SHOULD BE UNLEVERAGED.

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