Please note we as traders are not wishful thinkers. We trade based on facts, fact is there is a small measured move, so i cannot wishfully hope for the larger one.
Be realistic in your approach and dont let money slip through your hand.
Watching right now, thought i share this one with you all.
I am waiting for a clear breakout bar, and with it clear fundamental reasons to buy the pound.
Price might stay for a little longer in this range until it makes up its mind.
You can also crossanalyse all GBP pairs, and you will see some sort of similar consolidation pattern, that suggests a possible GBP...
Interesting textbook continuation pattern. Watching for now, might enter on the US open if the opportunity presents itself.
As always with a tight stop and a big reward.
Also look at nasdaq and dow, both suggest higher prices are coming.
Fundamentally i see a weak CAD and relativley stable EUR for now.
Expecting a move above 1.5120 for big stops to get hunted.
Playing this idea with a very tight stop and a good reward possibility.
Please trade with care and do not overrisk.