hisah wrote:mnandii wrote:GBPJPY Shorted at 172.88 SL:174.20 TP:Open
The best way to target a big figure is to add positions as the trend expands. Works well with non volatile pairs like CHF, NZD and at times AUD. But caution with the beast aka gebby, the one you're trading. Very wild/volatile pair. As fast as it multiplies pips so does it cut both ways (profit or loss). Take what you can from gebby. But at times it falls and rallies without wild swings.
A quick scan hints that GBP$ will likely test 1.6050 this month if 1.6450 breaks down.
Gebby is volatile. True. Is why I had to put such a large SL.
GBP$ also looks set for a big fall. I also have a short on it with a SL at 1.6673.
Now I watch.
Gold may rally but am still working the wave counts.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.