Over the years I have used numerous methods and strategies
I’m working on something right now that combines 3 of the best strategies I’ve used in the past
I have a good skillset of taking something apart and rebuilding to work to any market condition
Entry details are shown on the chart.
We're only looking for TP3.
Trade history can be seen below this trade idea too for full transparency.
I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily.
Jumping on random trade ideas 'willy-nilly'...
As the video explains, we believe that there is a decent chance for further bears on the GBP and possibly on the FTSE too.
The video also goes over a recap on GBPNZD sell from Friday night that ticked all of our boxes to short.
We trade using the RSI indicator, Fibonacci retracement and the Donchain channels. and wrap it all up with price action...
For GBPUSD I see price has tested a weekly decending trendline, its been rejected and currently stopped at resistance
I believe price will break the current trendline and retest an area near to it before falling to its next support level
(I actually think this pair will just bomb without much of a retracement but will have to wait and see)
Price is still bearish IMO and I still stand by my original analysis BUT I have seen that we reached an area of support (which was once resistance) that price has reached and bounced off of.
I believe price will now come down and breakthrough this level and go to its next highlighted level of support.
I am basing this analysis off of divergence and previous price action.
This pair is still bearish and I am waiting for a fall, price will need to break support (level 1) before we enter another sell.
I intend to TP at level 2 BUT if price is gaining momentum and signals are showing that price will continue falling then we will adjust the SL to the level below (Level 3)
Price may again come up for a retest of the previous level, if...