Hello Traders, I would like to bring to your attention a very important trade. I have noticed that GBPUSD has failed the 1.3000 level twice, never passing the whole number (Major Quarter Point). This is a classic Quarters Theory trade, which states price will make two attempts to pass a whole number, before reversing to AT LEAST the previous Large Quarter Point which can be found at 1.27500, which would be +250 pips. When price cannot surpass a 1000 pip range (1.2000-1.3000) it will remain within it's current range, with a high probability of it falling within previous Large Quarters.
I have suspicions that we will see a push to 1.29750 soon, which is where I will be adding the bulk of my trades onto. Remember, as long as it does not break the hesitation zone of 1.30750 the trade will still be valid. Should it push 125 pips above 1.3000 it will be considered a completed quarter, and we would then see prices rise from there.
We will monitor price action to see if it further decreases below Take Profit 1 and heads towards our other take profit levels. If it does, then I encourage you to pyramid this trade, adding on additional trades as you begin to monitor it by the week. The payoff will be great, and you will be less attached to watching charts.
As always, limit your risk - this trade offers a potential 5:1 reward.
Best,
ForexNick
I have suspicions that we will see a push to 1.29750 soon, which is where I will be adding the bulk of my trades onto. Remember, as long as it does not break the hesitation zone of 1.30750 the trade will still be valid. Should it push 125 pips above 1.3000 it will be considered a completed quarter, and we would then see prices rise from there.
We will monitor price action to see if it further decreases below Take Profit 1 and heads towards our other take profit levels. If it does, then I encourage you to pyramid this trade, adding on additional trades as you begin to monitor it by the week. The payoff will be great, and you will be less attached to watching charts.
As always, limit your risk - this trade offers a potential 5:1 reward.
Best,
ForexNick