Now, I also don't want to be exposed to strongly correlated trades only, and not diversify, and I definitely don't want to trade with blinders on, and avoid taking good trades due to my personal biases, whatever they might be.
So, I play Devil's advocate for a bit here, and try to decipher the GBPUSD chart.
I'm looking at the GBPUSD and inverted GBPUSD weekly chart here. It appears like has been bad for the Pound and recent news about the Brexit 'implementation' have hurt Pound bulls considerably, making the technical setups we had fail.
I see we have a weekly time at mode signal in play, a weekly range expansion bar, and a huge downside (or upside target in the case of the inverted Pound chart).
I'm sure this is a stupid trade, so probably, it a good one to take.
What are your thoughts? Leave your comments behind.
Good luck if you follow my idea.
Bam, nailed it. Holding, risk free...already closed half anyway.
If anyone lost money on this, I'm sorry to hear, let it be a wake up call.