Price Doesn’t Move In A Straight Line
- faithmight
- November 28th, 2011
No matter how long prices move in one direction, you can bet on an opposite move sooner or later. The $GBPUSD was in a free fall last week. This breakdown in price saw movement in an almost straight line from 1.5880 to 1.5450. When price moves like that with very little to no retracement for a week, the prudent trader expects a bounce in the new trading week not a continuation.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Lydia Idem has been investing in equities for 16 years and trading currencies actively for 5 and a half years. Her trading style is simple and short term. With a special feel for sterling, Lydia trades almost exclusively the GBPUSD and EURGBP. You can follow Lydia on Twitter and StockTwits... (more) -
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