As the majors stay in ping pong ranges it is best to stay nimble and trade both ways. "Surfing with the Alien" today on AUD USD we closed about 85 pips of profit. SMART MONEY is still working both sides and using their standard tricks to keep traders in bad trades. We have been trading with them.
We are still looking down as we know AUD USD is going to grind down. After SMART MONEY does the range war grind down, AUD USD is going to the upside and it is going to be a substantial move. We plan to surf it. We love trading in ranges with SMART MONEY.
GBP USD is about to embark on a long grinding move up. We guesstimate a 2500+ pip move north. Just rough figures but it will keep everyone trading in ranges. As long as the Retail traders are caught in ranges they will be stopped out constantly by SMART MONEY. The only way to make money in ranges is to trade with SMART MONEY against Retail traders.
If you have ever surfed in the ocean you know what surfing feels like.... it is cool, exciting, even dangerous, why not live on the edge? right?...In order to do it successfully you need to surf with confidence, without fear.....