We're already positioned with longs from 1.0534 and 1.0585, and now all stops at 1.0518. The levels on chart suggest that we could expect to hit the zone I highlight with the translucid orange box on chart, between low volume resistance from the weekly and the lows of the Brexit and election days. Once we hit this level, I intend to flip short, or at least reenter my long term USDJPY and USDSEK long trades.
Good luck,
Ivan Labrie.
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Good progress, hold.
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I don't like how FX is acting overall. Might be due to dollar borrowing costs, lower liquidity before risk events and end of the month profit taking. If you want to hold, be patient, if not get out and wait until we have these events out of the way: Dec 4th, Italy referendum, December FOMC. This applies to any FX trade idea I posted.
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Moving stops under yesterday's low and adding is a good idea.
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If stopped, you can reenter but keep position small before the news this weekend.