EURGBP, this pair always acts like this. It is a very slow moving pair. Look at the double bottom. The first bounce was lower than the second. The second swing up is higher than the first. To me, that is saying the momentum is on its way up. In the longer term, we have a huge wedge and price is at the bottom of that wedge. Price is resting right on the 1 hr tunnel. We have some huge news coming out early tomorrow morning.
With the news coming out and price right at the tunnel it is wise to close this trade cause if I didn't, I would be gambling and I hate to call trading gambling. To a point, trading is gambling but in my mind it really isn't. I would have to close this trade cause it isn't worth the risk. Notice on the 1 hr chart I post, that signal would have been worth 20 pips and could have had a 15 pips SL.
With the news coming out and price right at the tunnel it is wise to close this trade cause if I didn't, I would be gambling and I hate to call trading gambling. To a point, trading is gambling but in my mind it really isn't. I would have to close this trade cause it isn't worth the risk. Notice on the 1 hr chart I post, that signal would have been worth 20 pips and could have had a 15 pips SL.
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JOHN 3:16