Seven days ago, I posted this about GBPUSD:
Since I posted that chart, prices have since dropped over +300 pips. And it has already entered into my "critical zone" that I had marked. Will it continue to drop more? It could. but this retrace wave (4) is most likely reaching its end soon. When it does, I will be expecting a MAJOR reversal to occur. But for now, that isn't about to happen yet.
When it is time and I see the needed signals for a reversal to occur, I'll be taking a LONG trade and you can be sure that my subscribers will be the first to know about it and we will be making more pips on this pair.
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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