GBPUSD : Trendline
Two days ago, I posted the chart above. I mention the STRONG bearish channel.
And I also mentioned that those lines I drew are NOT trendlines.
If you ask me what happened now, I would still answer the same.
But what do you think Trendliners would do now? Many would proceed to BUY because their favorite line shows them that the price is BULLISH. Buy and get fcuk.
This is one of the biggest errors when using trendlines.
a) Do they expect things to remain the same?
b) Do they not think the line may have shifted?
So, think again whenever you think of trusting your TRADE and MONEY with trendlines.
Want to know what the new line looks like?
Good luck.
And I also mentioned that those lines I drew are NOT trendlines.
If you ask me what happened now, I would still answer the same.
But what do you think Trendliners would do now? Many would proceed to BUY because their favorite line shows them that the price is BULLISH. Buy and get fcuk.
This is one of the biggest errors when using trendlines.
a) Do they expect things to remain the same?
b) Do they not think the line may have shifted?
So, think again whenever you think of trusting your TRADE and MONEY with trendlines.
Want to know what the new line looks like?
Good luck.
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