Dave Floyd
Aspen Trading Group
Traders,
Yesterday I posted this chart of GBP/USD calling for resistance and a reversal off the 1.4250-1.4270 area.
That has in fact played out, but, as you can see from the chart below, the price action noted in yellow highlight is not terribly impulsive - lots of overlap.
This is where trade management and not getting too caught up in the moment is key.
Don't get too excited about letting the trade run because USD is rallying - price is the final judge and right now it suggests tempering ones enthusiasm.
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