NickB- 14th June:-
1. Long @ 162.59 – average line
This line formed last week. It is the new 2009 yearly high but it has not had a decent reversal. I would much rather see the price head away from this line before it approaches it again but I will trade it either way. That being said I will obviously have much more confidence in the line if the price moves away from it first.
2. Short @ 154.82 – average line
This line formed the week before last and it seems quite good. We see a nice strong move towards the line, two candle wicks hitting it followed be a strong reversal.
This line looks like a great trade opportunity so be ready for it.
3. Short @ 142.95 – strong line
This line has been around for a few weeks now it looks like a good line and I will trade it if the price somehow magically gets down there this week. Watch out though this area has proven to be very tough to break through. I will exercise extreme caution with this trade.
3. Short @ 139.00 – strong line
Metalhawk- 15th & 17th June
GBP/JPY:
1. Short @ 154.90
That’s it. Some may intend to trade the yearly high, but not me. I don’t usually like those unless they are a clear, clean scalp formation, and the 162.55 just doesn’t do it for me.
- long @ 160.28 (if you can monitor this trade, you may want to keep an eye out for the 160.45/50 level)- short @ 156.43
