Dislikedi know you are a very experienced trader and i have learned ALOT from you.
gbpusd will go up, like you said, but smart money see and KNOWS what you are saying and they want it up to, but they want new low first so they can position themself.
if you are smart money, and you see money flowing into GBP, would you jump in it? or would you take it down first so you position yourself better?
don't be silly and get on the bus, it's going to make a new low, then you can buy at a much better price
i had this typed up a bit ago but didnt want to...Ignored
lol
starbucks...
I understand what you mean ..... but for us to see what pros think is the bottom we have to look to volume ..
check out tradeguider software .. really good stuff and a lot of learning tools for VSA
DR Geppy introduced it to me .. i used to trade stock using simple volume ...
Blogging daily now at www.volume.zone