14 September 2023: Exit of GBPUSD buy trade from yesterday
I impulsively exited the GBPUSD trade. Then I decided to do this video to explicitly go over the logic as that helps me reduce mistakes and play the markets better.
As I did this video, I realized it does make sense to exit as the GBP group has downside risk. And the USD group is likely to hold for a while before resuming down.
Due to the hold outlook on the USD and the price action situation before London, I exited the NASDAQ buy trade too, as I thought the volatility from the open of the London session would more likely lead to a move down than up from the low volatility range seen in the Asian session.
As I did this video, I realized it does make sense to exit as the GBP group has downside risk. And the USD group is likely to hold for a while before resuming down.
Due to the hold outlook on the USD and the price action situation before London, I exited the NASDAQ buy trade too, as I thought the volatility from the open of the London session would more likely lead to a move down than up from the low volatility range seen in the Asian session.