BRO, and I am tellin ya that it is a dumb trade into the face of strong momentum and fundamentals. The OECD PPP numbers are a total hoax. The pound can easily settle around 1.15 - 1.20 long term (heck it can even touch parity to the US dollar) given Ms May carries through her pledge to turn the UK into a socialist state.
Exactly. Why picking a place that pushes against you when you can trade with momentum and still be exposed to sufficient risk of being wrong but at least at way better odds of winning. Traders should always know that they are not trading the pound or Apple or Microsoft. We are trading probability distributions. Nothing else.
Don't hold your breath. This was not even a proper call. I respect a proper call with clear entry price that is close in timing to the actual real time price level,and a clear stop level. All else is a hoax of losers who have no trading abilities and later highlight their "trades" that ended up in the money while conveniently omitting the horrendous draw downs and the losing trades. Waste of time.
Let me save you a great deal of trouble and time, there is no edge in using stochastics. Not in crosses, or divergence or reverse divergence. Its all meaningless, zero predictive value. Now some might try to trick you in saying differently by cherry picking the correct price action and/or parameters to make it look useful, be smart.
....or they simply give a crossover a fancy name and charge hundreds of dollars for each such innovative indicator...