The 'santa clause' rally was not kind to my previous trade idea. I find myself stuck in a Hedge at the moment with a 45 pip discrepancy (Not the worst situation I have found myself in by far.). We have found ourselves back at the top of the channel with a reasonable rejection of price forming on the daily candlestick .
I am looking for positions to take this back down to the 7200 level, roughly my average sell position at this point. I am looking for a clear close below the 4h8EMA at which point I will be closing my Hedging positions and looking for entries on the 1h + 4H time frame. All bets are off if we see a rejection of the 4h8ema and my hedge will continue.
Fundamentanly I see the UK hitting a bit of a speed bump economically in January with this wave of Omicron. My current thought process is that although we seem to be at less risk of hospitilisation by this strain we are still at a significantly high risk of mass isolation. This risk is further accentuated by the refusal to lockdown. This will undoubtedly feed into the supply side problems we are seeing and further precipitate concerns with inflation . Lockdown is inevitable now and along with other precipitating geopolitical issues I am anticipating a red month in January.
Good luck and all the best in the new year.
I am looking for positions to take this back down to the 7200 level, roughly my average sell position at this point. I am looking for a clear close below the 4h8EMA at which point I will be closing my Hedging positions and looking for entries on the 1h + 4H time frame. All bets are off if we see a rejection of the 4h8ema and my hedge will continue.
Fundamentanly I see the UK hitting a bit of a speed bump economically in January with this wave of Omicron. My current thought process is that although we seem to be at less risk of hospitilisation by this strain we are still at a significantly high risk of mass isolation. This risk is further accentuated by the refusal to lockdown. This will undoubtedly feed into the supply side problems we are seeing and further precipitate concerns with inflation . Lockdown is inevitable now and along with other precipitating geopolitical issues I am anticipating a red month in January.
Good luck and all the best in the new year.
