OK, the market has categorically stated (to me today!) it is long I have decided to go long here. The difference is this time I will restrict myself to 1 pound a pip, and set a large stop. Effectively I need to treat this as buying 10000 GBP which is essentially what I am doing.
Lets face it - according to the chart we either have a slowly rising support level , or a definite resistance level at approx 1.66
Its not surprising that was eventually going to lose money. Trade after trade has been a fire fighting operation where I have got out by the skin of my teeth and eventually I was going to let one go too far. Trying to trade in this environment for this particular asset is very very difficult.
A good learning experience?
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