GBP/USD - 1D - FaKeout and return to equilibrium
Maybe too late for entry here guys, patience is key with GBP pairs and we may look to enter if price consolidates around the 61.8 and doesn't fall through without another small pullback , a clear fakeout and return to equilibrium has now been established.
If price continues its downward cycle and continues to respect the 61.8 fib retracement we will not look to enter until a new equilibrium has been found although price could break up once more for a second fakeout.
Be patient, my trades can take anywhere between 3 - 30 days to complete, we are trading high probably setups here. Drawdown will present no problems with my system if you use the correct Risk management strategy for your account size.
Good luck :)
If price continues its downward cycle and continues to respect the 61.8 fib retracement we will not look to enter until a new equilibrium has been found although price could break up once more for a second fakeout.
Be patient, my trades can take anywhere between 3 - 30 days to complete, we are trading high probably setups here. Drawdown will present no problems with my system if you use the correct Risk management strategy for your account size.
Good luck :)