Some interesting action going on with the Eur/Gbp. The pair pulled back sharply this week and now the question is: Do we buy this dip? The pair is still in an uptrend as far as my system is concerned...the green bars are my TLT Trender v2 indicator and green means uptrend. We're gonna have to watch price action closely on the intraday charts next week to get a read on this situation. For starters, I'll be looking to enter the pair as it nears the 90.00 level...gotta watch those round numbers. Here's a daily chart with the TLT Trender v2 indicator:
Buying pullbacks can be a very rewarding strategy, the only catch is that you have to be disciplined in setting and sticking to a hard stop level...as the pullback might turn into a reversal and you should be out of the position long before a reversal is confirmed.
Have a great weekend.
TLT
Buying pullbacks can be a very rewarding strategy, the only catch is that you have to be disciplined in setting and sticking to a hard stop level...as the pullback might turn into a reversal and you should be out of the position long before a reversal is confirmed.
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