Gregs Trading Analysis (GBP/USD)
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Thread: Gregs Trading Analysis (GBP/USD)

  1. #1
    I'm creating this thread to post specialized setups that I see in the market.

    Feel free to add comments, tips or alternative methods for viewing the charts which are posted.

    My analysis is based on turn around things, these are exactly what I perceive to be setups. Factors where price is likely to continue in a direction to a clear support/resistance point. This point can be previous highs/lows or a 00.

    Trade Caliber:
    - GBP/USD intra-day only.
    - 4 Hour Charts (Daily, Weekly and Monthly are also used but won't be posted in thread).
    - Wicks, Closes and Opens (evil candles signify support/resistance and candle open/closes signify stronger support/resistance)
    - Daily high/low, weekly high/low, monthly high/low, 00 areas (anticipation levels).
    - Basic trend lines (never buy/sell at the point of a fashion line, only use it as an indior - wait for the installation!) .
    - Market times (mostly focus on Asian gt;gt; European crossover and early euro trading hours).
    - Market volatility (market is always changing and you have to comprehend plogical risk aversion/appetite according to fundamentals at x time).

    You are here to either learn about the way the market transactions or change your understanding of the market. I've been involved in Forex because September 2008 and analyze charts about 4 hours per day. I'm 22 and have been self-employed because 19 (not with Forex).

    I will try to keep this thread updated. . So lets see how matters go, I'm not a blogger character.


  2. #2
    There are just two important prices that were closely watched with this setup.

    1.5285 was a price price that opened and closed often (look closely).

    1.5300 was the heating point.

    The only added resistance over 1.5300 was a wick.

    Yes there was a bearish trend line but this was looked at as an aggression point. On daily chart this trend line was insignificant.


    - 1 penis is voting to increase interest rates, though it was expected this nonetheless supports a buy.
    - Retail sales are over forecast.


  3. #3
    Trade data attached.

    1st strive fail
    2nd attempt success

  4. #4
    Technically, this pair should close out now at approximately 1.5520

    This is a point which the market is expecting.

    Moderate bias remains bullish.

    Will be looking long in the forthcoming days.

  5. #5
    2x positions long, intended from late West session (since I am in New Zealand).

    Momentum across the news release saw the pair break previous trading pattern. The chart speaks for entry point and its self should be self-explanatory.

    Take profit is inside the latest day trading range.

    If the pair closes now at the top of the range, Thursday will decide if this pair is going to continue it's journey to next resistance points 1.5830 and 1.6000

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