DislikedDespite the big drop in the week, the commercial traders keep adding shorts and the large traders keep buying.
The small trader that usually are on the wrong side on the tops and bottoms still have some ground until became heavy buyers.
Maybe we can see some correction on this week moviment before a real drop on EURUSD and GBPUSD
Only issue I can see is that if, for example, you enter at the 38.2 with SL at 50, then why not enter at 50, it's also a resistance.
ENter at 50, your SL is at 61.8 but if that's gets stopped out then do you also enter off 61.8? It could get nasty very quickly better to wait for a bias change but then you miss the fib level entry.Ignored
In your Swissy chart you mention that an ascending broadening formation has a 66% probability of breaking out downward. Where did you get this statistic from, if you don't mind me asking? Proprietary research, or some public source?
i think 1.0250 could give us few pips