21 Nov 2007

1. Current position
Long at 2.0730 (Paper loss)
Short at 2.0400 (paper loss, intent to cut loss, but miss the point)

Long position at 2.0520 close position with TP triggeres at 2.0650.

2. Position to play today:
Long 2.0680, TP at 2.0750

3. Personal expectation:
A rebound south is possible as CCI did not go into a oversold and EMA21 may reverse. I will place this at 2.0520. But of course, the chances for the GBP to go up is strong with a good resistance line at 2.0750 and 2.0850.

Of course, since it it is too much to abandon my short position, but I will watch it today (miss it yesterday to close it) to minimize loss.