GBPUSD once you know your strategy, you should have set guidelines on what you follow on what you enter on. for example you could use the 6hours for viewing the bigger picture, you could then use 1hour and shorter to get the entry. remember charts are fractal so it means whatever hour you look at it on your strategy willl reveal itself. don't believe me try it...
P Lines and support and resistance is key. take a look at the higher time frame just remember the markets are fractal. you can trade what you like and you can trade it on the bigger picture it doesn't matter what your personality is like whether you're a sharpshooter that can't sit still and has to trade on the minute timeframes. or whether you're the more...
depends on the traders psychology some see buys and some see sells. it can come from past beliefs and experiences.
All you have to do is see what the big picture is saying and then just zoom in timeframe by timeframe get to know the pair your trading and you will have better help smaller time frames give you better entries higher timeframe helps you decide which way the direction could be.
Get to know your pair and its different personalities. Similar to what a multi frame analysis is, A multi time frame analysis helps to give you a better view these charts are fractal. its the same structure through any timeframe. what you see on the 12hour chart could be happening on the 2minute chart. a bit like a snowflake. start on a higher timeframe and...
No matter what the timeframe you trade on, it can always be helpful to get an outlook view. Current gbpusd outlook
SHORT IDEA Resistance and Trend Line meet With a Psychological Level
Patterns Patterns Patterns! Patterns are repeated throughout history in any environment.
Keys to success in trading: Understand one pair and its movements (where it likes to reverse and where it likes to rally) Get to see the bigger view picture Within that bigger view picture have a closer look you might find more secrets
Okay so GBPUSD reached its psychological level and held pretty strong needs checking on the bigger time frame and then zooming on the smaller time frames, market structure suggests we have potential to go short
3 Confluences (To help it push to the downside) 1) Support Break and Retest 2) Trend Line Support Break and Retest 3) In Line with Fib 50% As a trader we bring out the tool box to help us make our best judgements on where a trade can go! Its a game of probability, so we must try to increase our probability of success. P.S probability of success will only be...
Chart Pattern Interesting to see what could happen next
Personally, I like to get to know the market behaviour of a certain currency pair. Each pair moves different, because of the different traders, that trade a chosen market. Each market resembles collective behaviours of the individuals trading that certain market. I know one pair and trade one pair. GBPUSD I know where it looks to move and where it likes to...
Chart Pattern GBUPUSD 4th touch on the upper resistance trend line. Possibility to move to the downside A quote I heard from a trader "Chart patterns will stay the same, because people don't change"
Trapped in a Box - is what I would like to call this. Price has been consolidating through its support and resistance levels. Support and Resistance is a simple and most basic framework a trader can understand. A key fundamental to successful trading is to identify the correct support and resistance levels. You need to be able to understand your chosen...
Potential long position setting up Confluence: Fib level 50 TP at strong level Get to know your currency pair and the way the behave, each one has its own attitude
GBP In simple explanation, Within the whole world of trading, the primary drivers of price action is other traders. Like me, you and everyone else that trades the forex markets (or any other markets). Price patterns are repeatable and are demonstrated again and again and again. Us traders have the ability too see what is happening and predict what will...
DXY has reached monthly highs Trading psychology suggest traders around the world will potentially push this price back down the level suggested!