GBPUSD, DAILY (with Hotspot & Length of Bearish)
MAY 27.2015. Although it's bearish, but wait until 10 bars to see the 1st trend. Length of Bearish = 20 bars (approximate). Unless we want to take the risk.
From 1 to 20 bars in details:
1st -> 10th bars = 1st trend
11th -> 12th bars = Open Position following 1st trend (cut loss/ hit stop loss)
12th -> 13th bars = 2nd trend
14h -> 20th bars = Open Position following 2nd trend
20th > more = might be following 2nd trend, reverse or sideways.
From 1 to 20 bars in details:
1st -> 10th bars = 1st trend
11th -> 12th bars = Open Position following 1st trend (cut loss/ hit stop loss)
12th -> 13th bars = 2nd trend
14h -> 20th bars = Open Position following 2nd trend
20th > more = might be following 2nd trend, reverse or sideways.