Potential new run in GBPUSD
Updated
This move looks the real thing, having started from the long term point of control.
Trade active
One of the great (or scary) things about this phase of market development is the lack of a target. Steidelmeyer just said there's a price that stops the market. So stay long and look for signs of the next phase, development of a new POC which could be some way off. I don't want to jinx it by saying it might be as high as 1.3200, but there you go!Trade closed: target reached
Long term Point of Control (Daily chart) achieved. Might continue but likely to spend some time correcting the recent strong run.
Capital can always be turned into income. It is not so easy to turn income into capital.
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