You know your stuff.EURGBP has continued in our desired direction. WE got the breakout as we wanted and then price had a pullback. Went into drawdown slightly but nothing to worry about. Today's candle is a very impulsive bearish engulfing candle. So I would expect from here to go on and reach our projected TP zone. Keep holding for now I would hope we get there this week, maybe after a doji candle tomorrow. Currently 66+ pips up, i wouldn't move SL on this trade until were over 100 pip sin profit. GLIYF
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This is not a stock though. It is trading one currency pair off against another.I think shorting a stock can be profitable but then it’s risky too. Would never go for it.
Does not matter how long it takes if it makes profitGood morning all. Our sell trade on EURGBP has taken an AGE to reach TP zone. After that very impulsive bearish candle we had near the beginning it has just been up and down daily. Perfect for intra day scalping. But very boring for a one positions holder. I am closing the long term position now and I will watch price and look for the next setup. I still think it will come down some more so I will look for the buys most likely from the demand below. I will update with a couple of options next time. Profit is profit so take it and move onto the next setup. GLIYF
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i use {50% candle sticks. on zones that break previous zones etc etc. on higher timeframes also. I try to keep trading as simple as possible for myself. We cant predict the future we can only go on what has happened previously. So i just trade and dont over leverage and that should make most profitable over timeLooks great however how do you determine supply and demand zones only using price as a source of information? Don't you think that they show what demand and supply was in the past and their future strength depends on new incoming information that drives decision making?