You can remain focused on the “distractions” as Greece continues to take the headlines, or you can pull your head out of the sand and wake the f%k up.
USD is “make it or beak it here” so trades are locked and loaded….but I don’t pull triggers on Fridays.
Snippet from the members section:
We’d really be picking bottoms here as it’s “still” too early .
Looking at a 5 minute chart of GBP/USD you’ll want to “at the bare minimum” see the 5 minute chart CLEARLY TRENDING UPWARD so….pull out to see att least a full 5-7 days of trading and plot the 200SMA to start.
You’ll want to see this turn “upward” regardless of the actual price level before entering.
Sure the level looks great “now” but from a safety perspective – let it start making “higher highs and higher lows” on this tiny time frame to even consider entry.
As it stands…the 5 min has yet to turn upward so…..consider how small / micro we are looking now.
I would rather see the 15 min “as well” th 1H trending higher before entry but…..we are getting very close to a point where “legging in” makes sense.
This can be reflected/applied against any USD related pair here, as we “hang” on the cusp of trend change.
Imagine hitting it on a 15 min time frame as still being “sooooo early” right?
No reason to enter here before the weekend. We’ll miss nothing.
Are you trading forex yet? Or are you getting completely smashed trying?