24/02/2014: I have just bought EUR/USD @ $1.37264

I have been waiting today for a correction back towards the intraday uptrend and i have now got it!

The support around $1.3620 gives me a chance to buy EUR/USD as I believe it is shaping up for a push above the high at $1.3773.

I have placed my stop at $1.36840 (42 pips) which is under the low of last Thursday at $1.36850.

EURGBP   24022014

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  1. Congratulations at last TWO clean hits (or were you stopped out?)
    If one waited a little GBP/USD seems to be a bullseye……….

  2. I think you said yesterday that FTSE would search for new hights…6880 something..
    And it reached that level during the night.
    But in spite of that , and its just a feeling, that FTSE seems weak , both yesterday and today
    if you look how its reacting with DOW J.
    Whats your opinion about that?
    Or as you are in London maybe you think the opposite ?…..
    That its DOW J reacting to FTSE…? LOL

  3. FTSE always tends to follow the S&P 500. There was a breakout on the S&P 500 intraday to a new all time high yesterday but the move was rejected. This is the second warning signal in under a week (after he bear key one day reversal last Wednesday). FTSE has been strong until hitting the resistance (on the cash index) and correcting today. I do still like the FTSE 100 Index andthere is good support around 6800 which now needs to hold to prevent a correction back towards 6750. The index just got a little bit ahead of itself near term and is unwinding a little.

  4. Thanks
    Well, I am a little annoyed with myself. I said on Twitter yesterday that Cable could be a buy as it was back to the support of the 38.2% Fib retracement. However I did not actually do the trade.
    I subsequently missed out on 100 ticks…

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