Premium & Expert Swing Trades
Bitcoin is now showing signs of selling activity as we anticipated around the 12K region. This is why we set our swing trade targets below the resistance zone AND took partial profits on our longer term inventory. Hopefully you didn’t get distracted by all the excitement and over reactionary bullishness being proliferated by the herd. Now we WAIT for a retrace, but the question is to where?
On the forex front, we are eyeing the GBP/USD as a potential trend continuation trade short as the U.S. Dollar is setting up for another leg higher. The British Pound has been affected by political factors such as the Brexit situation, which makes it even more sensitive to unexpected news. As long as the broader trend stays intact, we will attempt to capitalize on it rather than taking a higher risk counter trend swing trade.