Greetings all.
Not posted for a while. Been busy trying to figure out how to spend all the money I've made on GBP/USD. What a great fozzy trade this has been. Which brings me nicely to the topic of this piece of rambling. I closed out my last lot Fri eve. The chart reveals an ever steepening climb. Looks like everyone chasing a runaway train. And we all know what happens next. I could well be wrong but I am expecting a pullback before the next leg up to my ultimate target. If this is a valid H & S the measured move is 2.1095. A 1.618 ext is at 2.1023, a 1.0 exp at 2.1089. Call it 2.11. Big round number. If I can get back in on a pullback, say to 2.0650 (July high) there's a nice R/R to be had. Time will tell. If I'm wrong, enjoy the extra pips fozzy followers. I'm sure BB will split his share with me. Monthly chart paints a nice picture.
Not posted for a while. Been busy trying to figure out how to spend all the money I've made on GBP/USD. What a great fozzy trade this has been. Which brings me nicely to the topic of this piece of rambling. I closed out my last lot Fri eve. The chart reveals an ever steepening climb. Looks like everyone chasing a runaway train. And we all know what happens next. I could well be wrong but I am expecting a pullback before the next leg up to my ultimate target. If this is a valid H & S the measured move is 2.1095. A 1.618 ext is at 2.1023, a 1.0 exp at 2.1089. Call it 2.11. Big round number. If I can get back in on a pullback, say to 2.0650 (July high) there's a nice R/R to be had. Time will tell. If I'm wrong, enjoy the extra pips fozzy followers. I'm sure BB will split his share with me. Monthly chart paints a nice picture.
Attached Images
Those that can, do, those that can't, teach.