DislikedIf we had a magic ball, of course, we would all have been Trading the other GBP Pairs and making a fortune in the rising Market, but we don't. Friday was not a "normal day" for the GBP pairs they all greatly exceeded their ATR. So unless we have a way of knowing a day like Friday is going to occur BEFORE it happens we, which I certainly don't, we should be Trading like we would any other "Average Day". After the fact we think we should have rode the Wave for all it was worth. Any Trade, I now take, I'm looking for no more than +3R return because...Ignored
What was your directional Bias for the week?
look at the dollar index (usdx)
high of the week was made on tuesday
weds and thurs failed to make a new high meaning they only wanted prices lower
this before FOMC
so if dollar index was to go short then this should mean bullish gbp and eur
Steve you are so near,,so Close to being the complete pro trader
you clearly show your skills at reading a chart and marking a chart.
with a little time studying the right material,,,your there mate.
email me and i will point you in the right direction