TMV Swing Trading Report – Long March British pound @ 1.6047 – The market rallied over night and reached a high of 1.6274, just missing the target objective of 1.6280, before pulling back to 1.6190. The pound may try to retest the high and reach the target objective, but it has completed the short-term cycle,… read more
Monthly Archives: February 2011
Swing Trading Strategies – Reaction swing triggered buy in British pound. [chart]
In the last issue of the TMV Swing Trading Report I said. “British pound has posted double bottom formations on consecutive reversal dates (January 25th and February 1st). The price action has formed a bullish reaction swing and appears poised for an upward price swing into the ascending median line. “ Overnight, the pound traded… read more
Futures News – Factory sector expands at the fastest pace in 7 years!
WASHINGTON (AP) — The factory sector expanded in January at the fastest pace in seven years, as manufacturers reported a sharp jump in new orders. The Institute for Supply Management, a private trade group, says its index of manufacturing activity rose last month to 60.8. The sector has expanded for 18 straight months of expansion,… read more