Tuesday, January 23, 2007

Russell and GBP 1-23-07

The Russell opened slightly down this morning but strongly rebounded off of 780.00 support. Most likely we are moving from yesterday's balance level of 782.00 up to the 786.00 balance level.

The Pound broke above the 1.9750 resistance that formed a double top in December and early January.

First Russell trade of the morning was at 6:50 long regular signal at 782.9 for +1.5. I should have ridden this out to the 786.00 level but didn't. The next signal was at 7:16 short regular signal at 784.4 for -1.5.

Net Russell trades for the day -.01

With the pound breaking above the 1.9750 level an entry signal (finally) has triggered long at 1.9824 which happened at 2:00 a.m. this morning.
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