Rosemarie44
Private
- Messages
- 21
Hi FPA
I'm just trying to make sense of the Forex signals that are sent out daily. For example, today I've been looking at GBP/USD which is currently trading around 1.5404 (currently it's going up). The daily signal recommends to sell @ 1.5307, Stop loss @ 1.5347 and Take profit (I assume that's what TP means) @ 1.5277. Two of the three indicators I use shows this pair as bearish but the 50 MA shows bullish. If the market does fall why would we enter so far away from where the market is currently trading. I make the difference about 90 pips - it just seems a long way off to me but I'm new to Forex so there's a lot I still don't understand.
BTW, I'm aware that I have to take full responsibility for my trading decisions whether they be from recommendation or my own strategy.
I hope someone enlightens me as I really want to understand these intricacies.
Rosemarie44
I'm just trying to make sense of the Forex signals that are sent out daily. For example, today I've been looking at GBP/USD which is currently trading around 1.5404 (currently it's going up). The daily signal recommends to sell @ 1.5307, Stop loss @ 1.5347 and Take profit (I assume that's what TP means) @ 1.5277. Two of the three indicators I use shows this pair as bearish but the 50 MA shows bullish. If the market does fall why would we enter so far away from where the market is currently trading. I make the difference about 90 pips - it just seems a long way off to me but I'm new to Forex so there's a lot I still don't understand.
BTW, I'm aware that I have to take full responsibility for my trading decisions whether they be from recommendation or my own strategy.
I hope someone enlightens me as I really want to understand these intricacies.
Rosemarie44