GBP/USD: New higher low on the way? (27th September 2017).
I've been watching this pair along side GBP/JPY, with hope of riding the wave down for these pairs to create their new higher lows.
GJ has broken me this week, giving me so many false hopes which as led me to damage my practice capital, I have £20 now lol. But I'm not broken that much, improvements and change will come,
As for this pair, I can see multiple confluences that gives me confidence that this pair is now on its way down.
1. Previous candle lows have been broken.
2. 8 EMA has been breached.
3. Stoch has crossed over.
My projected targets are:
• Previous HH as first target at 1.32512 (185 pips).
• Secondary target at 1.30642 (372 pips).
Hitting T2 would win my practice capital back and have a little big of profit in return.
We'll see how this goes!
I'm learning to focus on one pair because my problem is that I tend to change ideas and exit a trade to enter a different pair, chaos just happens, it's a gamblers mindset and I'm not here to gamble, I'm here to become a profitable and professional trader - time to make big changes.
GJ has broken me this week, giving me so many false hopes which as led me to damage my practice capital, I have £20 now lol. But I'm not broken that much, improvements and change will come,
As for this pair, I can see multiple confluences that gives me confidence that this pair is now on its way down.
1. Previous candle lows have been broken.
2. 8 EMA has been breached.
3. Stoch has crossed over.
My projected targets are:
• Previous HH as first target at 1.32512 (185 pips).
• Secondary target at 1.30642 (372 pips).
Hitting T2 would win my practice capital back and have a little big of profit in return.
We'll see how this goes!
I'm learning to focus on one pair because my problem is that I tend to change ideas and exit a trade to enter a different pair, chaos just happens, it's a gamblers mindset and I'm not here to gamble, I'm here to become a profitable and professional trader - time to make big changes.
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