GBPUSDThe beginning of the week looks like a very calm day without much volatility, but the scenario looks very good to take advantage of sales for the opening of London and purchases to our psychological point in NY as long as when Frankfurt breaks upwards at its opening, I will be on the lookout and I will make a decision based on what the price presents to me. Remember that a trader is not a fortune teller but an interpreter of the language of price.
Greetings from yours truly and have a good day.
Bgpusd
GBPUSD 2/10/23Starting this Monday off with Gu we were left with a very clear bearish swing set up from Friday as we've come into the first session of the week we have been given a bullish impulse to the upside which has signalled to us that we now have a swing below therefore we have a confirmed bearish range we are looking for a low risk counter trend entry for then a bearish continuation to the downside if the bearish continuation does not occur we will hold the counter trend trade for a longer term position of course we have the S&P this afternoon so the narrative of price may change prior to that or during that event.
GBP USD stuck at the moment?This is what I'm looking at for a Monday, the initial push up had retraced to below the 50% then made a push up and at the moment has not made a lower low or broke the high.
I have my two structure lines and it's when those areas have a good 1hr Candle closure that i'll start looking at this a bit deeper
11.03.18 GBP / USD Short signal idea .1) DXY Is up - trending.
2) Mid - elections are the following week witch indicates market uncertainty, (the possible outcome will make Democrats in charge, witch will fix the tax reform problems and east trading tariffs, witch will lead to slight USD strenght ). We are betting on stronger USDollar.
3) Short signal on technicals with high volatile week ahead.
Potential Long Term Short Setup - 1.4500-1.4800 Zone I've started to watch GBP/USD a little more closely now, as price action is starting to close in on a mid 2016 supply zone that has not been touched since that time.
Personally, i don't use a bunch of indicators on my charts, i just plot out what i believe to be strong supply and demand zones and simply wait for price to get there. Once there, I'll simply look for a daily reversal confirmation or possibly set and forget and entry based on price structure. I'm looking for this to be a very long term short, so we'll just have to wait and see how it plays out.