I found this amusing. I was asked to go to this chat forum and see what they were saying about the market. Here are four of the comments I saw.
Hi, I join the tread started by ……. and ask you guys the same question about GBPUSD the coming week, any views on where we are going?
My strategy when the market opens above 1.8950 i will set long because the market opens above the resistance
It's very risky now.
It might have bottomed near term at 1.8834/36 and managing to rally beyond 1.90 again. And if someone expects this, he may not be wrong because stochastic made a positive cross, a doji plus a bullish candle but that’s not too enough.
Someone else might come.. and say no, It's going down. and he also has good reasons. Why? GBPUSD almost touch the 1.8967-65 resistance, and it might be a place to find plenty of sellers. Also the bullish candle didn't close above 1.8953 bearish candle open. rather closed at 1.8946
All in all..Bullish trend is not confirmed, it has to make a close above 1.8967, things are pretty much trapped within 1.8834/36 low / bottom and 1.8965/67 high / top. And only IF bears enter to take control now and push prices lower again, most likely we will break the 1.8834.
I am staying out until either side is broken.
Does anyone agree cable may go up to 1.9050 area? or will continue bearish when the market open on Monday?
Our thinking on this type of guessing is WHY guess? I have found it much easier to let the market tell you where it is going. Your guess is as good as the next guy. When you follow the indicators on Jump Start and Launch Pad you have signals to go with the market. Just find the trend on a larger time frame then make your entry on a smaller time frame. There does not have to be any guessing or predicting what the market is going to do just watch and follow the markets lead.
We hope you found this as entertaining as we did. There are many traders that are looking for someone or something to tell them what to do. The best way is to learn some indicators then let alerts tell you when things are happening, once you know the direction of the trend enter a trade.