Guys keep it simple... its bouncing quite simply because we are still in a Medium uptrend, there has been nothing absolutely nothing or any kind of event yet to dictate this pair to reverse. Those who are short are shorting only corrections or think they are shorting a TOP, which is ok providing your MM makes sense, those who are long are with the trend albeit such levels are not the greatest.
So far the 1.3930 recent high was a top and we have corrected since, but now we are on path back to that level and perhaps beyond, maybe not.
No one knows for sure, but what is for sure is that we are still in a MED term uptrend and a short term range 1.3780-1.3850.
Those looking to long at current levels are simply intra day traders and not position builders, and those trying to short from current levels to me are wannabe traders trying to find a top or bottom in price, GLWT, maybe your right once or twice but that will be based on pure luck and nothing else.
I have mentioned in my few posts before, that WHO cares where the top or bottom is within a currency, all that should be cared about is that you are trading in the direction of the trend.
This post is not directed at anyone just giving my 2 cents.
So far the 1.3930 recent high was a top and we have corrected since, but now we are on path back to that level and perhaps beyond, maybe not.
No one knows for sure, but what is for sure is that we are still in a MED term uptrend and a short term range 1.3780-1.3850.
Those looking to long at current levels are simply intra day traders and not position builders, and those trying to short from current levels to me are wannabe traders trying to find a top or bottom in price, GLWT, maybe your right once or twice but that will be based on pure luck and nothing else.
I have mentioned in my few posts before, that WHO cares where the top or bottom is within a currency, all that should be cared about is that you are trading in the direction of the trend.
This post is not directed at anyone just giving my 2 cents.
Cheers!!
Watch how they are playing with yesterday's low…calling for new longs. Vicious…they are.
it is only 10oz but pretty dam happy not often catch this moves
