Even though the EURUSD might appear to be bearing northwards atm, the momentum is feeble. A better appreciation of this market is it's in a range currently but the major direction is towards the south. Trade safe.
Even though the EURUSD might appear to be bearing northwards atm, the momentum is feeble. A better appreciation of this market is it's in a range currently but the major direction is towards the south. Trade safe.
....patiently wait for the very best opportunity to attack.Originally Posted by ;
Tip:
In case you would efficiently trap the market, patience is king. You would need to first analyse and understand the market, specify your trading bounds and conditions, plan your trade and choose the right egies based on the market - wait for.
That amount is in confluence with the immediate 4H support zone.Originally Posted by ;
Now tracking GBPUSD, GBPNZD and GBPCAD. If price retraces into the daily pivot (DP) and bounces off it, it is going to be a fantastic time to consider entering trade to the north. Trade safe.
To trap the market, track the market with appropriate analysis. Then wait for your setup. Never chase the market, never chase price. Trade safe.
When price got into my degree, I took the trade. The price moved to over 100 pips afterwards but when it had been fighting around the instant 4-H resistance zone, I left 100 pips profit. After considering 4-hour fracture to do other things and return to the market I saw that the price has moved further up and has supplied another signal about the 4H chart to get a long trade which I took. I am still in that trade. Trade safe.Originally Posted by ;
Here's an update on my plan to long GBPUSD upon price rejection of this Weekly Pivot (WP). In the 4-H chart attached, price rejected the trendline and proceeded upwards in denial of this WP. This was what I was searching for contemplating a transaction. How far the transaction goes I don't understand but my profit goal is at the next major resistance zone. I've moved my stop loss to lock a few pips. Trade safe.Originally Posted by ;
Interesting to see how the EURGBP is retesting an S/R zone which is in confluence with the DP and WP. If the zone has been refused, look for a bearish trade with a tp around the 0.84520/0.84310 area.Originally Posted by ;
Note that cable has not broken the low generated since July 7 in spite of retests and the momentum downwards has stayed weak. This appears to portend a bullish move in the offing.Originally Posted by ;