Recently, I’ve been concentrating on the FX margin trading.
If you get to know about characteristics and patterns for each item, it will be very helpful for your trading.
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I will begin ZeroMarket FX Chart Analysis for GBPUSD on January 7th
This is AUDUSD for yesterday.
It didn’t show a wave pattern that I wanted. But, the price fell right at the red timing above.
Then the price went down below parallel supporting line and danger zone with a drastic fall.
It was about $489 movement.
Congratulations.
I also checked USDCAD which has the opposite direction and made profits in both items.
Today we have GBPUSD 30m candle chart.
I will be brief.
Based on the parallel line, First short position unless the price goes above the parallel resistance line. Then finally long position at the bottom point.
Please check out red finger pointer at the middle part.
When breaking out parallel line, if the price reaches the smile face line above, we are at safe zone.
Furthermore, please check EURUSD which moves the same direction with GBPUSD.
And also check USDCHF which has the opposite direction.