Recall my post last Fri regarding the MACD divergence spotted on GBPUSD? (You can find the post here)
That divergence turns out to be a false signal… GBPUSD continues its downtrend today… As stated in the previous post, that trade should not have been taken because of the following two reasons
- The forex market was going to close for the weekends in a few hours
- The divergence did not coincide with any Fibo levels
GBPUSD on Monday 1st Mar 2010
