Looking To Buy Pound Lower preferably in the grey zone.
I shall update w/ entries and stops, aiming for just 2R.
Buy Pound in PBZ. Price is targeting CMLH, 1.4740, I think.
January ending was a good buy. April ending still a good buy if price doesn't reach 85.21 by month end.
My stops and targets are on chart.
Price may go higher, but I'm targeting just twice my risk.
I shall update by April ending also.
Complex Pullback to a well organised downtrend.
My approach is to look for a simple reward, twice the risk, and then wait for another setup or signal.
The established trend was to the upside, but technically now, I see a possible loss of buying pressure.
I think that he probability favours a downtrend going forward.
I shall look for valid setups...
I hold short on daily. Entries & stops on chart.
I'm risking about 70pips, and targeting 140 pips.
I'm never interfering with this trade. I either get taken out on SL or TP, as I have taken time to consider my options.
I am prepared for the loss dollars, should it happen.
Read my Daily and weekly views below
1. Well organised downtrend.
If this micro-bull trend should continue, then last week's drop should be a signal to lift pound off from here. ( I mean good buying Friday's close, Aggressively so). Heavy drop but doesn't matter if trend is really up
The conservative would wait for the 3DVR for last week's RE_bear. So that, if we fail to reach 1.2698, three weeks from now, then buy w/ stop @...
If an ABC correction fails to continue the prevailing trend, it becomes a trend reversal, and a new trend in the opposite direction begins___ @moorekapital
Im shorting a good BO bar south box. Initial stop is about 80pips but shall be updated upon trigger. Targeting bout 200pips