As in one of mentioned prior I have been trading this channel for a while. We are seeing a bit of a pullback in the stocks (see my post on the FTSE today) presently and some GBP strength feeding in, likely in anticipation of interest rate rise following this mornings CPI data.
Following on from my previous post where I took a small position at the bottom of this descending channel I am looking to increase my position size. I am anticipating a pullback in your major indices over the end of this week which should bring us back into the S+D zone below price @ present. Ideally I would like to see some bullish crossovers on the lower time frams (1h, 4H) but if the daily candle closes above the 8EMA then I will enter on the next pullback. I am comfortably 125 pips in the green on my first trade so will add to increase my average position to 1.34 region.
Trade Safe!
Following on from my previous post where I took a small position at the bottom of this descending channel I am looking to increase my position size. I am anticipating a pullback in your major indices over the end of this week which should bring us back into the S+D zone below price @ present. Ideally I would like to see some bullish crossovers on the lower time frams (1h, 4H) but if the daily candle closes above the 8EMA then I will enter on the next pullback. I am comfortably 125 pips in the green on my first trade so will add to increase my average position to 1.34 region.
Trade Safe!
