GBP/USD:-
Swing traders can exit shorts on the lows of today, as systems have gone long.I do expect a rotation back upwards to re-test upper resistance zones around the Weekly 50% level...That needs to be verified with the break of intra-day trailing resistance line (yesterday’s report)
Swing traders can exit shorts on the lows of today, as systems have gone long.I do expect a rotation back upwards to re-test upper resistance zones around the Weekly 50% level...That needs to be verified with the break of intra-day trailing resistance line (yesterday’s report)
Traders captured the trade on the Way down and exited on the lows yesterday. And traders who traded the reversal on the way back up, had the perfect confirmation with the break of the trailing resistance line and the expectation of a swing back towards the Weekly 50% level
Wednesday it’s too early to say what the market will do. A 2 –day reversal, which today is part of the 2nd day has a random length, therefore it might be 1 more day to get a better idea on the next probability trade.
Those traders who are still long, partial exit on today’s highs and run breakeven stops from entry, with next exit zone around 2.080.
Even though the trend is down, better shorts might be on Thursday….
Wednesday it’s too early to say what the market will do. A 2 –day reversal, which today is part of the 2nd day has a random length, therefore it might be 1 more day to get a better idea on the next probability trade.
Those traders who are still long, partial exit on today’s highs and run breakeven stops from entry, with next exit zone around 2.080.
Even though the trend is down, better shorts might be on Thursday….
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