I thought I would sit down today at the open and play some support and resistance scalps. I got in on the Gap up retrace for 11 pips and then played another resistance break at 1.5927 to 1.5938 for another 11 pips for a total of 22 pips. Anyway I missed the break to the upside I had my line on my chart but walked away. That would have earned me about 60 pips. Go figure the minute I walk away, oh well can't win em all! I am still holding my short and I also have added 4 more units at 1.5975 for a total of 5 units short now. I am a little speculative on this one. Pound could retrace quite a bit during this London session. We have broke the R1 resistance level and bounced off it. I'm thinking pound could go as high as the M4 pivot which is also the 200 ema on the hourly chart. I look for it to roll over here. If not be cautious it could be going to R3. I have placed my stops out of the way at 1.6029 just in case. Let's see?
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