Interesting chats with traders today …about the British Pound ..the GBP moved 500 pips yesterday and another 400 pips today…I missed the entry early this am..it was running without me ..so I stalked it on the retrace I knew would come…yet everyone I chatted with was calling it short..near the bottom …I’m thinking go ahead chase it ..but is it a high probability entry ..not by my eye

so ..at 6 7 8 am it was trying to find a bottom..the bottom just dropped out during the euro session ..creating a steep angle and an almost double black diamond (my skiing term for very steep) inner trendline  ..the 8 am candle bottomed ..and then gave an entry….once it broke the inner trend line…the entry was LONG..not short …but but but..the GBP is weak ..yeah well it moved 190 + pips long  ..back to the outer down trendline …which then gave the short entry…up near 1.4050 …that is what I look for in an entry…either way long and short..entry is the most important weapon I have ..jumping on a moving bus..cause it is weak and Britain is going out of business is a way to get skinned.

..GBP subsequently made a lower low…but still 900 + pips in two days ..after this thing has been beaten mercilessly for months…it is dangerous to say..it’s a short..without knowing the setup..unless you can afford a negative 150+ plus ride…and you can’t

Meanwhile .. a new day in Asia and it is retracing..LONG..could easily go to 1.42-1.4255 ..the 382 retrace ..and first real resistance area..from my experience ..FAST DOWN..or FAST UP..gives no support/resistance..ok out will try to post the chart to this…if I can figure it out…

Like I said in my first post ..KNOW what you are doing..and take advice carefully…

Thanks as always

..brasil

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