Disliked{quote} yeah good - however, given the structural difference in the GBP from 2008 to now, you might as well throw away the data for the older charts... its a completely different make-up, and techs will count for shit-all above 1.7050... yes there may be some stops, but to get to 1.8/1.9/2.0 you need fundamental backing... which just isn't there (and I'm more bullish the UK than 95% of the street) Techs don't work on the longer timeframes.Ignored
It's great to see you posting. Thank you for sharing. As it relates to Techs - I am not a Tech trader JeremyWS. My post was written for the benefit of day traders and the different approaches that they will have towards how they look at the market and the different tools that they may use to interpret the charts.
As it relates to 1.8/1.9/2.0 I am sharing a possible scenario and what I will do if X happens. Those levels are not near term targets, hence position trading. And as you know already, holding Long the GBP/USD is good for swaps and that i've been making alot of . So as Price Action dictates, a trader should adjust.
I have been stating that I am a Price Action Position Trader, so based on price action, decisions are then made as to how to manage one's position.
I hope I have managed clear up any misinterpretation you may have had from my post. What and how we write in forums can sometimes be filtered and interpreted differently by each individual that is reading it.
How is your trading coming along?
HDA OUT