Tuesday, January 31, 2012

Cable uptrend is slowing down

The sterling uptrend against the dollar is slightly weakening following a false breakout that changes the slope of the trend. I use this chance to put a speculative short position, hoping for a bigger correction to 1.5558. My back up plan is to add another sell if the price moves against me. So my money management strategy should be wise or I could get margin call. Okay lets see how it plays out.