1.4255 at European open?
My assumption is that the move down isn't done and Pound is likely to make another leg down.

Now, I am cautious that this is just a sweep of the recent highs, and that's it. If they sold it to this area, and they don't want to buy it right now, then they will play endless games with it until they want to rise it, in my experience.

But I think the odds favor some rise here.

First level hit, even overshot a bit.

Originally posted by MarcinO

My next levels are 1.4135-45 and 1.4075-85. Minor level at 1.4110.

Correct read again.

ES facing backtest area in here.

The ES: "I've fallen, and I can't get up!"

This is actually pretty scary for me, how the volatility has contracted. I am still finding 1-3 very decent trade opportunities per day, but the usual (if you like to trade individual intraday legs) is much higher. I guess the fear they will 'turn the machines off' is unfounded, because as soon as things start to go south the machines will be turned on full blast I believe. When that time comes, though, I would suggest everyone look at converting as much of the profits as possible into hard assets.

The approach of compounding the results and trading increasingly bigger size is fine as long as the trading approach and system hold together, but if it gives way when one is all in cash, that cash may be almost worthless. You know the old saying that double or nothing eventually gets you nothing. That's just my two cents, and I'm sure Armstrong would disagree vehemently. Then, again, how much of his likely hundreds and hundreds of millions of wealth is in cash in USD? So, he may say he disagrees, but what is he doing with his own wealth???

That lower // calls to it. But without any 'context' it's hard to say what may be going on in the bigger picture.

Originally posted by rat89

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had a day full of appointments.....did you say something jim? ;)