cyclewave

GBP/USD (GBPUSD) - choppy to bullish bias

OANDA:GBPUSD   British Pound / U.S. Dollar
GBP/USD ( GBPUSD ) has completed B wave in running correction as wxy, therefore C wave is rising sharply up. Wait for c wave of 2nd wave down of C wave major to touch the down side trend channel to get in to trade for bullish bias with stops below 1.24639 level for target zone of 1.27421 level.

Comments

Dude this time frame is way too low and too volatile to be doing analysis on, too much risk here
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cyclewave Sage101
@Sage101, it's depends upon traders to traders, which time frame they prefer to trade. I always hunting for trade it doesn't matter to me it's in 15 minutes time frame or 2 HR. Because it's always associated risk and reward with it. I think you understand what I mean to say.
Anyway right now it's not a trade here in gbpusd. It was yesterday's trade set up.
Reply
Sage101 cyclewave
@cyclewave, I see, do you look at higher timeframes to confirm your bias (e.g daily)
Reply
cyclewave Sage101
@Sage101, of course, when two time frames matching the trade set up then only, trades can be done. Also major preference will be given to higher time frame. Basically I use 15, 60 120 240, minutes time frames to find trade set ups.
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Sage101 cyclewave
@cyclewave, and I like the way you presented your charts, it's not too crowded with indicators everywhere, I like that, I've seen some charts that they only use indicators to trade, no price action
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cyclewave Sage101
@Sage101, I use indicators like macd & rsi for divergence and bollinger bands and volume, but when I represented the chart, I hide out those so that viewers can not get confused.
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First time see your chart and its great :)
Reply
cyclewave FoxCharts
@FoxCharts, thanks. you can follow me if you like my TA.
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I encourage you to deny the trolls. Focus on the positive and not the negative. Your posts are very helpful to me. Thanks
Reply
cyclewave DawnButlers
@DawnButlers, thanks.
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