GBPUSD - Monthly Psychology đź§
If the same pattern repeats we can expect deeper sells on GBPUSD.
Although, we all expect the DXY to turn around, does it need to?
Sometimes our psychology or what we want to happen can have determinantal effects on our trading.
Oh look the DXY is so high, that it must drop etc.
NO, go with the current flow of things.
Last year EVERYONE and I mean everyone expected the dollar to die and it did exactly the opposite, the same was true with Lockdowns in the UK, all investors expected GBP death and it continued to soar.
The point I am trying to get across is to avoid EXPECTATION, sub-consciously seeds get planted in our brains to steer us away from the truth via news, FX websites and general social media hype.
If we can take a step back and look at things logically we will have better success in the markets and avoid the herd mentality.
This is my rant and thought today, I hope you are all having a great weekend team 🔥
Although, we all expect the DXY to turn around, does it need to?
Sometimes our psychology or what we want to happen can have determinantal effects on our trading.
Oh look the DXY is so high, that it must drop etc.
NO, go with the current flow of things.
Last year EVERYONE and I mean everyone expected the dollar to die and it did exactly the opposite, the same was true with Lockdowns in the UK, all investors expected GBP death and it continued to soar.
The point I am trying to get across is to avoid EXPECTATION, sub-consciously seeds get planted in our brains to steer us away from the truth via news, FX websites and general social media hype.
If we can take a step back and look at things logically we will have better success in the markets and avoid the herd mentality.
This is my rant and thought today, I hope you are all having a great weekend team 🔥
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