Auslanco - GBP/JPY and GBP/USD (newstrade)
i only short tops and buy bottoms if i see a very strong S/R level supported by divergence.
on the other hand, yes i think we might get there before resuming down, but, i would only add more shorts at that area, i wouldn't go long in a very strong bear, NOT when trading the beast.
even if we get to 205.50, if there's no divergence, i wouldn't even close my shorts.
this is the time where i keep most of my positions open, i only cash 1/3 of my position in profit just in case of a "pullback" so that i can add more shorts. when trading the beast carefully during a selloff, u can easily double/triple your account off of 5-10% of equity trades with 2-5% MM.
i have shorts open at 213.60 - 212.28 - 210.43 - and 208.60, and the latter already at b/e stop loss. i must say, i had my hand on my heart each time i added a short praying for no reversals, lol.
the basics are good most the time. we have a broken daily TL bro, and massively strong bearish momentum.... i've seen days (march 14-17) where there hasn't been a pip of pullbacks when moms were pointing up...
the beast is scary, don't go against it during a selloff.
good luck bro.
Never happen in our entire trading just for the record we are heavy sellers of this pair last Dec 2007 that's why it fell out of bed dramatically now we are heavy buyers since May if you could back track my posts and since then no more 1000 pips crashes and it will never happen for this month unless we sell once again next month!
