DislikedSean,
Don't be in such a hurry to get into a trade – take another read of Lotuselanman’s post # 5669 (Thanks Christopher).
[font=Arial]You are firmly trapped in the vices of an amateur whose only thoughts are profit. When we see prices move (big red and green bars), our psyche (greed) takes over and the little man rushes you to get a piece of the action. This is the absolute worst time to enter a trade and is where 98% of traders lose. The big boys (MMs) are behind these big moves and wait for the suckers...Ignored
I'm trying to read and understand the thread as better as I can....it will take me another couple of days to do it....
I also was watching GBPUSD... let me try to let you know what I see...
A broken trendline...(H&S??) but at the same time a support at 1.60500 not broken at the moment...
If it will be broken...I will have to wait for the price to confirm it as a resistence, in that case...I will watch for PASR to show me that it wants to go down....
Can it be?
Market is like a puzzle, YOU have to fit the pieces!!