tripleogstar
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who knws why sterling is tanking. profit taking? But not as if the rally was so huge that traders would be ready to take profit. I think its a good level to go long
who knws why sterling is tanking. profit taking? But not as if the rally was so huge that traders would be ready to take profit. I think its a good level to go long
I was thinking about going long Cable from here.....
Euro/Dollar has not moved to the downside as much as expected.
I cant understand a trade against todays move and against overall sell pressure?
makes no sense?
I have respect for all traders and I am by ni means insulting your views here.
But take a look at what you have said. You have no trading plan or setup which confirms your trade, your saying "its worth a try", hope is not trading.
If your trading price aciton, you must have a plkan and a strict rule set up for various setups and types of trends.
This GBPUSD has moved up into the core of the sell zone in the 1.4300 area and is telling the world it wants to go down, now why do you really feel your "guess" is goign to work.
Being a contrarian is only good when you are using counter trend movement to enter in the direciton of the trend. Guessing the highs and lows base don gut feel is a risky unworkeable method.
Some thoughts, and again, this is pure discussion and not a personal attack whatsoever.
A seasoned trader keeps thing simple, its its falling, sell it, if its rising buy it. Follow prevailing chart trends (pressure) and always stick to a written plan of some form.
trailed euro/usd stop hit.. earlier in the day..
looks some suckers are fighting to keep up the euro..
Has not been a gud day for us has it Rid. I was stopped out on the long GBP/USD trade. Seems the market is expecting a rate cut this week, I still do not believe they will cut. Most of the bad fundamentals have been priced into sterling, so I am still quite bullish on sterling. However, a rate cut this Thursday would totally change my view about where this sterling is going. The pound is still very vulnerable, I have learnt that today