DislikedHi Bo. I've been following this thread with great interest for months, but I have never posted on it. Thank you for all the incredible input (and patience).
With regards to the above comment, do you still lean more toward a particular standard for entries (like candle openings) or do you prefer some other parameter?
To me, the bars from 10:00 - 12:00 GMT on the GBP/USD 1 HR chart were particularly bad. Was there anything prior to the beginning of the european session that helped you reach this conclusion? The situation is obvious now, but I'm not sure I would have been able to see it early enough to avoid losses. Dumb luck kept me out of the market this morning...
Thanks again!!Ignored
Price could not advance in either direction without retracing on itself. Just the impression I get from looking at the early candles is that buying and selling pressure were equal at the time.
Looking at the candles on GBP its clear price was trying to rally but there are extreme wicks on the tops of the canldes in the early going...something doesnt match there and its becoming obvious now with GBP but its too late and wasnt worth it to find out earlier.
The Euro wasnt as choppy but was and is still showing its support is holding...GBP support has failed. Its better to wait these type conditions out..alot of fundamental problems all over the globe are also playing havoc and panic in the markets everywhere.