As we fast approach the London session, a new trading day should finally give us the pay off we have been hunting.
The positions outlined for the week are still in play, and while others may be looking to buy EUR/USD and GBP/USD, we are following the smart money.
So yesterday we got our first level to enter short at, this was the point of selling pressure we were seeking, the price quickly dropped, and we are now seeing the retrace back to our level of selling interest. So today we need to start seeing a strong decline from here
Today at 9 am in London we have news for GBP and two hours later news for EUR:
So, the first in line to move today could be GBP/USD.
As you can see just before our news is coming out, we have finally reached for our selling of interest, this should now allow us to start selling down to the target price level.
USD/JPY has not yet offered the price levels we are looking for. There is a chance we get a straight run to 115. As the price on the daily chart has traded off the resistance turned support, so there are two scenarios likely now.
Now Tesla continues to grow interesting, while we have to wait for the Indexes to drop (and we can trade the ETF of them) we have seen our first point of interest met from yesterday
Now at first, the downside target was 260 a share, as of this morning we are looking at the same down target but here is the thing, if the indexes drop dramatically we could see Tesla go below 100 down to around 80-90 per share which if that happens provides a huge potential for selling and then a beautiful entry for a long term trade to buy at the lowest level. Keep an eye on this stock.