Wow guys,
Today was a terrible trading day.
Before things developed i was certain in a few possible scenarios, but a lot of contradictions came up and i got confused.
Confused = You don't know what is going on, hence it's not possible to have any sort of bias and it is not acceptable to trade.
I closed my position with loss for today, i still believe the GBP/USD may fall and if it does i think it will reach the 9350 level after which it will bounce back up.
If this comes true we will have a bullish Head and Shoulder trend reversal pattern with a neckline around the 9455/60 area with a probable profit projection of 150+ pips - a good place to set buy orders would be around/above this area.
On the downside. The possibilities are a break of the 9350 are and a test of 9260
Thats pretty much it.
I will look forward to tommorrow to recover my loss and make some profit.
Regards,
E. Lang
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