Mac’s happenings…

September 30, 2008 · Filed Under forex trading · Comment

GBP fell out of bed! (unlike me… getting to a late start today) #
GBP support zone 1.8127 - 1.7911 #
Trading lane break to the upside. 1.8088 - 1.8002 #
Upper lane held on close, 3 bar reversal down #
3 bar was too tight. 48 pips of profit for 50 pips of risk. #
GBP back at the bottom of the trading lane. 3 bar for support #
Bailout didn’t pass. More later. #
S&P dropped to 1119 (53 points) in 10 minutes. #
GBP up move of 165 #
Steady now. This is where emotions can ruin the day! #
When you’re on the right side of days like today (we were, thank God I got out of my Crude long) emotions can run to the euphoric. #
GBP is moving up, but showing signs of resistance holding. these patterns can be tough because the moves are so big #
Looking for 3 bar reversal at resistance break to the upside at1.8182; downside at 1.8124. #
US markets grinding to the downside. Dow cash down over 700, S&P down 97 #
Teleconference details on the blog. #