Psychological Pound Trading Week & Schizo weeks ahead

Fractural Long Term Note: We would espy psychological levels in all majors in the near foreseeable future, and we would scrutinize levels not seen not in 5 or 10, but at least 15/20 years and above. Euro has started to form a wedge that will have a potential sharp decline, and the formation is only at the beginning. Once formation is complete and wedge base is broken, we will trade the resistance of that wedge for our long term target at 110, and we will add to the position on a new yearly high if made by 177 pips exact. For demonstrability, my wedge formation is not of course on the 5 min charts.

Notwithstanding persistent warnings that pound is ratcheting up towards the psycho level at 2.000 that was

- ForexSurvivor target since January 2007 (see the reminder text below), and that
- Our entries levels would more be on the Long hits and very few on the Short hits

I was surprised to receive plenty of recommendations on how to ‘Survive’ Short sterling around 197/198?

Click here to find ForexSurvivor GBPUSD trade since January 2007 achieving 801 pips. The lowest level seen among my trades signal is 19218 and the highest is 20090, which is equal to 872 pips. Mmm… GBPUSD had been convincingly ForexSurvivor friend along its trend so far this year.

Revising the above trades myself, I am swimmingly surprised that none bulldozed the thirty to fifty scales ForexSurvivor average loss per signal. You may note as well that only Short signals required ‘surviving’ signal tactic.

Since we have approached the pound psycho level, I would re-pass briefly the Pound Letter that was launched on January 2007, so you may reconsider a better strategy for your short trades.