Page 1 of 1
GBP/USD
Posted: Mon Mar 12, 2007 9:02 pm
by Spectre
GBP tends to gap and followthrough without a significant retrace, lot of traders have learned to follow this technique on days where this happens. The retraces are minimal.
Traders end up stalking this pair and wait for days like this for easy money.
Re: GBP/USD
Posted: Mon Mar 12, 2007 9:39 pm
by RedRock
Spectre wrote:GBP tends to gap and followthrough without a significant retrace, lot of traders have learned to follow this technique on days where this happens. The retraces are minimal.
Traders end up stalking this pair and wait for days like this for easy money.
It seems at times, when something looks obvious and 'easy'. The opposite or some perverse unimaginable (which destroys the previous 'easy' traders) becomes the next 'easy'. etc. I long ago recognized that the pound responded brilliantly to the MESA tuned indicator bottoms. And then I began trading it.
Posted: Fri Mar 23, 2007 6:25 pm
by Spectre
GBP on a longterm basis is bullish, but in 2005 when it established 1.72 as the floor it retested 1.72 a year later in 2006 before pushing up and finding support at 1.82 and pushing higher, if this pattern of trading continues it implies that 1.82 will be retested sometime this year. Its almost a fractal pattern on a longterm basis.