GBP/USD trading
- Thread starter nik1033
- Start date
Long at 1.98399 still, stop not hit on the overnight
Awaiting retest towards 1.99 intra-day
Important levels:
Major resistance at 1.96697, 61.8 of Jan 7 -> Jan 24
Key fibs of retracement back from 1.9116 to 1.9692 and why I care:
1.98314 <- breach of might confirm coming retest to 1.991
1.98048 <- Might prove significant hurdle
1.97769 <- Failure here = cut losses and look for the coming slump
Current status edit: higher highs, higher lows en route to 1.9776
Awaiting retest towards 1.99 intra-day
Important levels:
Major resistance at 1.96697, 61.8 of Jan 7 -> Jan 24
Key fibs of retracement back from 1.9116 to 1.9692 and why I care:
1.98314 <- breach of might confirm coming retest to 1.991
1.98048 <- Might prove significant hurdle
1.97769 <- Failure here = cut losses and look for the coming slump
Current status edit: higher highs, higher lows en route to 1.9776
1.9666 momo is too strong to the downside to step infront of it.
The road to riches, GBP is amazing. Anyone want to know its secret?
price modeling indicates you can only trade in the direction of the last 100 pip move, better probabilities if that entry is consistent with the trend for the past 60 hrs.
The last 60 hr trend is still up, but the last 100 pip move is down. When both of these point in the same direction, the trade has the best probabilities of working out.
The last 60 hr trend is still up, but the last 100 pip move is down. When both of these point in the same direction, the trade has the best probabilities of working out.