Auslanco - GBP/JPY and GBP/USD (newstrade)
You mean 95% are bears and the other 5% are bulls?In my opinion, this market has been in ranging mode for quite some times now so there is really no clear trend. That's why it's important to bank profit at the appropriate levels before profits become losses or smaller profits.
(especially in this kind of a market)
my interpretation:
in weekly we have 1c bearish and 10c,14c bullish.in daily 1c and 10c are bullish and 14c is bearish.
in other side,price is still above 4hr gannhilo,so intrady trend is bullish to me.
also we have daliy gann and weekly 5sma close at 207.50 and 207.90-208 area as a good resistances for upward movement.
so the scenarios that are in my mind will be:
1-price can go to 4hr gann and bounce from there at 205.90-206 area.
in this situation,after 15 min QQE5 cross up and price close above 15min gann,i take another long.
reload half of it in 207.80 area and will wait till good break out above this area.
2-price can go to 4hr gann and break below it and confirmed.
in this situation,price resume it's major bearish trend to the last week low and then will has bounce from that area.
in consider of momentoms i think first scenario will be in play
if another scenario be in construction in next times i will tell you.
ps:these all may be my 2 cents
first target is 205.15-20 that is 50% FIB line.....after that we must consider how price act...but in my opinion if price break 205.20 then it can reach to 4hr gannhilo.
otherwise if price break 203.40 area(strong support) then it can go to 200 area.
just my 2 cents
i closed all my longs @ 204.25 (got ~ -300pp)
don't worry bro
always exist opportunity to catch.
also you must consider longer time frames in your trades.
yes i know just like bit frustreted now , i hd a chanse to get 600pp profit @ 206.75 yesterday and got -300pp LOL
ok iam not worry about this 300pp i got profit +771pp on prev week
