We have been farming this range quite nicely. Big margin traders being stopped out, think now is a great low-risk entry for a sell off back to 148.750 area. What do you think?
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Please note, this is an IDEA and not a signal. I strongly believe we will see the pound weaken very soon.
If you're going to trade against a trend you need some solid confirmation that price wishes to reverse, especially when it has momentum behind it. ✌🏻
GuavaBoy
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Risky as it’s against the trend but let’s see how it plays out.
XAUKilla
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@jawadje, I'm always against the trend 😎 Reversals are my friend
AlkalineFX
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Great stuff bro
TradeXMBL
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Very dumb idea of going against the trend, thats why so many retail traders lose their hard earned cash, on setup like these. There is no confirmation, no sign of the trend getting weaker, you have volume indicator which clearly shows you this + your MA's and yet you completely ignore them. Strange setup.
XAUKilla
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@Matl101, Each to their own I suppose, end of the day most indicators don't mean anything its how each person uses it. I trade using price action, smaller time frame scalps normally but I'm waiting for the big sell off back to 147 area. So before you come commenting regarding how dumb it is, have a little more respect and understand this is a trade idea. :) thanks for commenting.