I have been in this trade, got triggered in at 1.39200. We all know GU is going to 1.40 and if youre more like an investor ignore this, but from a day trading perspective, this may be interesting. I know this is not a good risk reward ratio and Im going against the trend, but thats from a retail traders perspective, but as an institution, there are billions of dollars resting at the area marked on my chart, and where my take profit is at. The way i trade, dont really care about risk reward because i enter trades for a reason and it takes money to make money. I may be wrong, but one thing im sure about is that most people are long on GU, and most of them have stop losses placed around the area marked. Im confident before we hit 1.40, we will collect more liquidity. By the way Ive got a buy order at 1.38500 exactly where my short position TP is, so if i hit TP im immediately long. We will see.
Comment:
And just as I said it. Now we can be scaling into long positions targeting 1.40.