my few long position gbp/aud,gbp/nzd and gbp/usd. its alredy few hundred pips down. what should i do? it gonna go down more or go up? any idea?? pls suggest
Till now I am waiting for daily close, if it closes above 1.2122 level then I might be open a new Buy trade according to intraday market structure! On the other hand, if I get strong sell rejection from this level then will open my Sell trade here! By the way, till now I am also bullish! I make my market analysis in order to my price action knowledge!
Going forward, there’s no need to have multiple positions open which all form a single bullish position on the same base currency, GBP.
All three of these pairs have been deeply negative this month. Maybe your entry criteria need a check-up?