I did it. I waited patiently, set a sell limit at 1.05550 and hey, presto!! - it was all about the 1H and 4H TF that kept telling me that higher days are still ahead - with stochastic/RSI supports. I even risked a scandalously undisclosable, high ...

Aussie Trading Room and Cartoons Gallery

That crazy "tail" stopped out my long. Damn. And now it rockets skyward.

Aussie Trading Room and Cartoons Gallery

Aussy news good.

Aussie Trading Room and Cartoons Gallery

Bull's going down a-fighting!? Anyone brave enough to take sides?

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Happening now... Deeep-pockets' Wars

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Pulling....pulling.. Ground so close - my SL

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It's the stochastics on my 4hr TF I'm worried about. It needs to pull-out of it's dive in a banking turn north. Any pilot onboard?

Aussie Trading Room and Cartoons Gallery

Good for you. And, technically, a pending sell limit order is "waiting". We all need to wait to be strategic, sometimes.

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Bear-trap mini retracement happening now. IMO.

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In the end, it's your call only so if you want to short now, short already! In my opinion, if you don't wait in this game, you may get burnt. Besides, everything points to a slow uptrend since the London open.

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Well, it is fondly referred to as down under, isn't it?

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Here's the actual press release from S&P: url

Cable Update (GBPUSD)

Sell BPD/USD, in my opinion. Reason for the sudden drop: DJ S&P Puts Negative Outlook on UK's AAA Rating

Cable Update (GBPUSD)

Music to my eyes!

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You say only as if this is good for the Aussy. Compared to the previous 2.2%, it's worse.

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I'm used to razor-sharpness and so that was rather blunt. Thanks!

Cable Update (GBPUSD)

image You think that the 61.8 fib level can be retraced before the year end? Anyone? Thanks.

Cable Update (GBPUSD)

You really believe a retrace anywhere below 1.06xx can occur before any sort of Fiscal Cliff resolution? Edit ^^^^^ - sorry, wrong currency pair. I'm heavily exposed to GBP/USD.

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?? - Meaning it's nearly over. You really mean that?

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And your rationale?

Cable Update (GBPUSD)