Tuesday, November 1, 2011

Great British Pound / USD aka "The Cable", backtest and then down

These perfect backtests are the strongest signals for me.   Yet they often occur during a time when a "contrarian" would otherwise expect and opposite move.

So for this you can't just be Opposite George, you have to outthink your Opposite George.

And go short Cable, although between the US close and Europe open, the markets are just a little lost sheep, being chased to and fro by the barking wolves in the nearby woods.


  1. Excellent analysis Steveo.
    Looks like the bears are on the prowl for now.


  2. Euro broke out of down channel, and GBP bouncing off a small egg, went long 10 minutes before east Europe open


Insightful and Useful Comment!