Again Nice Work WnL, I have been long on this trade as well
I have been working off the daily and took a fair number of pips from early July and have caught some very good runs an managed to hold n add from .888 (lucky number :)) through to 895 n managed to grab .895 again this morning, the onight stuff looked so much like corrective congestion I had to punt on it :) and closed them out at .90 again today... happy... Still haven't learnt to pyramid cleanly like yerself, but at least am able to get certain trend following stuff in my favour at the mo... is good n big thanks to your work here :)))
Like your thoughts on shorting at this level ish when looking at the big picture 4hrly n daily...
Daily we are coming up to underside resistance on the 21 MA, n 4 Hrly we are looking kinda head n shouldery in terms of the current congestion pattern possible top. I don't trust heads n shoulders tho :)
I have some concerns that the current levels may just be a pause on larger timespans
on Weekly specifically with the potential of price entering into wave 3 on this timespan from the low mid august 2008... if price does crack and hold on the 21 ma on the daily, on my charts around .905 with current at .902, I will have to consider longs...
