So we looked over various currency pairs awaiting the fall upon changed sentiment. Economic fears for GBP are having a greater effect and pulling the price of the pair down significantly. This is what happens after a sustained period of upmove.
So now you must ask where shall I take this long. You must also be out your short side trades for gains.
Lets go over it now.
Comment
⋅
exit for scalp gains
Comment
⋅
Let market Fall to PRE determined levels or scalp lightly.
Hi Will, thanks for the video. One question, if the M chart shows the price is high despite the recent small drop, why would you look to buy this?
zito82
⋅
(I mean I would rather wait for a pullback to short again)
WillSebastian
⋅
@zito82, And in regards to this, that's what the video says to do
zito82
⋅
@WillSebastian, yes indeed, I guess at the end you say you can trade both ways and I agree.. adapting risks as usual
WillSebastian
⋅
@zito82, Precisely, with a full risk plan for all drawdown amounts / equity sizes. That means in any scenario, factoring in risk sentiment you are aware of what the MAX size is you'll trade at that point
WillSebastian
⋅
@zito82, Hi Zito, No problem and good questions you'll help a lot of people with this!
So pretty much, it's because if you don't trade it then you will miss the chance in the event that the dip is small and the trend sharply continues up. The difference is your risk size, because you are right, the M price is high. So basically, that's why I was saying to let it get to 1.175 as most are suited to it. But it is tradeable now for more advanced / scalpers. Hope that helps :)