GBP dropped first using some excuse about 150 pips and EURO was rised nominally about 30 pips up EURO?GBP made the rise of about 140 pips net change level.- a typical contrarian move using some stories. after upward stop hunt during start of US session EURO started the drop and GBP made another drop of 100 pips to make negative net change around 250 pips.So EURO/GBP is holding near high as the drop in euro and gbp were almost equal till now.After brief consolidation EURO is expected to slide again another 100 pips to make net change negative 150 pips.So when they players delayed the drops to different time frames they are able to handle the majors and crosses sequentially.We have to wait for them to complete the process and before that if we become confused and ask so many questions - it will make only the traders holding unfavorable positions to lose patience - the players try to exploit this weakness of the traders and avoid becoming victim to their act.
After todays’s US session slide EURO and GBP are expected to swing alternatively till week end and slide.
USD gaining moves could become visible by week end and next week.Those asked many questions out of frustration can review their questions asked today by next week and understand the value of patience and trading strategies in trading rather than forecast.
I request all traders to reflect on their mistakes and try to avoid repeating the same mistakes.we all learn and initially we may make mistakes,but if we repeat mistakes then others may not respect our strategies.
I can only guide and give suggestions like I can only provide food for thoughts,eating is in traders hand and i cannot eat for others.self help is the best help in achieving things in this world.
Regards
Dr.Sivaraman