GBPUSD Sell

First target 1.5800. Will monitor price action at 1.5800 for reversal or continuation.

UPDATE 1:18 PM: Adding a short term short position at 1.5879. take profit is 1.5810. At 1.5810 my first short position stop loss will go to break even.

I don’t know about you, but i’m tired of this entire crisis. It’s like a soap opera. Next thing you know Merkel will be pregnant with Sarkozy’s baby.  While I think we see the EURUSD eventually hit 1.4380 before the next longer term down turn, I have no interest getting long here. 1.4000 also concerns me as a potential reversal point.

High probability that is…  Did you think this was going to be some OWS protester? 😉

As you will see in the postings to come, my method has been devised of four things.

– Swing Trading

– Support & Reisitance

– Supply & Demand

– Price Action

Credit where credit is due… Old school technical analysis, Sam Seiden, and Martin Pring, with my own twist on each to fit the spot Forex market.

Stay tuned…