Suddenly, GBPUSD goes up in a strong downtrend
Analysing Forex from The Market side & perspective.
Last week we had a long downtrend of 325 pips until weekly close where it made many traders open sell positions. But this week The Market suddenly going up for 150 pips in one day. this might stop out many sell positions of last week trend followers. Today we have three trading positions. we have sell positions at 1.2393 if the market going down again to continue the trend. we also have buy positions at 1.2432 for reentry and 1.2553 if the trend goes higher.
Last week we had a long downtrend of 325 pips until weekly close where it made many traders open sell positions. But this week The Market suddenly going up for 150 pips in one day. this might stop out many sell positions of last week trend followers. Today we have three trading positions. we have sell positions at 1.2393 if the market going down again to continue the trend. we also have buy positions at 1.2432 for reentry and 1.2553 if the trend goes higher.
