july pivots, page-63

Cardz, I agree, $1.50 looks pretty bad from here but fundamentals are out of the picture at present and for me its all about my reading of the chart and having a clear strategy (ie, if it breaks above/below this level, what will I do). My previous strategy said sell if it broke $2.80 - but I ignored that strategy and paid the price. Thankfully I didn't make the same mistake when it broke $2.40. BTW - my current sentiment says hold; if held to this point you may as well see if $1.91 offers support.

I'm counting my lucky stars I fully bailed on the market a few months back, only trading CFDs at present (mainly the indicies) and on very short-term timeframes (day trades to a few days within price channels). Happy to give up some of the upside if things turn bullish and jump on mid trend when I consider and weigh up the potential downside.

I learned many a lesson the hard way during GFC 1 - protecting capital is key, not ignoring the charts is key and having a warchest ready if/when things get crazy.

Looking forward to tomorrow's action - carn $1.91!