Why am I taking this trade so close to a high impact USD fundamental news? Because I am ready to risk the stop loss. As the weekly bias is southward, if market's perception of the fundamental news favours my direction I stand to gain more than I lose. Besides, fundamental news by themselves do not move price action; it is how the market perceives and reacts to the news.
Trade safe and prosper.
KP
Trade safe and prosper.
KP
DislikedYesterday, I was watching price action around a zone (bound in deepblue coloured lines) on GBPUSD. Price action was sideways at the zone for a long while. It went northward for a while for about 60 pips and turned around at the 61.8 Fib zone of the drop from the high of January 25, 2018. It gave a bearish engulfing setup on the H1 time frame but it was not significant enough. So there was need for me to wait for a price action follow through. Based on the W1 time frame I was holding a bearish bias, a reason why I did not go long yesterday at the...Ignored
Do your homework, follow the footprints of smart money
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