GBP is following the Trend down:- This week’s trend target is 1.94020, with further weakness down into 1.93320 during January…
On Monday, the focus was use the 90 pip spiral top and trade down, once it completes the 90 pip bottom @ 1.95575, it could move into a 90 pip rotation pattern (swing back upwards) or it will hopefully continue down on Tuesday towards the lows following the overall trend…
This analysis is valid unless price breaks above the past 3-day highs on Tuesday.
As I’ve mentioned before I don’t know how long people hold their trades for, but if you are in it for more than a day trade, the strategy remains, partial exit on or just before the 90 pip completion and hold with stops above today’s highs, and then out any open positions whenever and whatever higher timeframe level, as shown in the chart above…..
Posts
