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    AL
    albert
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    Posts: 3,094
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    Starting it off.

    Al
    MA
    MarcinO
    Rep: 67
    Posts: 5,506
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    I guess the Pound (6B H18) will fall to 1.4230-40 before a next leg up.

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    6b 2018 04 16 png
    MA
    MarcinO
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    A stop around 1.4255-60 is very likely before it will reach the key level posted above.
    RA
    rat89
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    Posts: 7,015
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    potential retest on a gap open for the indexes


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    screen shot 2018 04 16 at 9 37 14 am png

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    screen shot 2018 04 16 at 9 39 11 am png

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    screen shot 2018 04 16 at 9 39 37 am png

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    screen shot 2018 04 16 at 9 39 49 am png
    RA
    rat89
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    finally:

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    screen shot 2018 04 16 at 1 11 31 pm png
    MA
    MarcinO
    Rep: 67
    Posts: 5,506
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    So finally the Pound broke above high of the year. The whole leg up is a nicely shaped uptrend, but what whorries me is its slowness.
    Last week day after day they broke above key swing points and long term trend lines, yet there was not a single day with a very fast move up or reaction.
    I wonder how will the market react to economic data release from UK at 4:30 AM EST. 1.4420-30 is definitely a level to watch, the next one is at 1.4515.
    All prices for June contract - 6B M18.

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    6b 2018 04 17 png
    MA
    MarcinO
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    It started to fall just below the area.
    MA
    MarcinO
    Rep: 67
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    Nice fall. 1.43 is a nice support.
    MA
    MarcinO
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    Apart from 1.43, 1.4345 is also an important support.

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    6b 2018 04 17 2 png


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    MA
    MarcinO
    Rep: 67
    Posts: 5,506
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    Cable bounced off of 1.4342. At 75-80 this reaction is likely to be done and maybe we will see another wave down to 1.43.
    AL
    albert
    Rep: 99
    Posts: 3,094
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    Marcin and rat,

    Great work, guys.

    Al
    AL
    albert
    Rep: 99
    Posts: 3,094
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    Today was not a stellar paper trading day for me. I placed four option trades today and three of them expired worthlessly. I did manage to make a small profit in UAL. I broke my resolves to be patient and to enter trades at a price pullback. It cost me. Nice setup but poor execution. The pullback was to a 0.146 fibo.

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    Al