GBPUSD: The Week Ahead (Day 2)

FX:GBPUSD   British Pound / U.S. Dollar
If you're new to following me, yesterday I decided to dedicate an entire week to keeping you guys updated on a single pair. Below is a link to the Day 1 chart if you missed it or just need a recap on what I was looking at.

The cable was very bullish yesterday an nearly pushed up to our projected bat pattern completion. Since then we've retraced and are setting up another potential drive to that level. With all of the heavy news out of the way today and the markets waiting on tomorrows GBP news and the USDs FOMC statement, I'm not expecting too much movement so I'll mainly be looking intraday for my trading opportunities.

Here on the hourly there are two places that i'm looking to get involved on GBPUSD             . The first would be a structure play at the retest of the potential Gartley patterns "B" leg and the other would be the potential Gartley which would complete down at 1.5517s.

Jason Stapleton just informed our Syndicate members that he got short this pair around the 1.56 even handle as well. My guess is a structure play as we've just tested a previous level, but I won't know for sure about his thought process on this trade until our War Room meeting at 8:30am NY.

The response was GREAT yesterday and it seems as if you guys are very excited about me trying this "1 Pair A Week" thing out. So I'll keep this going and if it continues to work well maybe it'll be a regular occasion.

See you guys in the Live Room!

Also if you're interested in seeing where I go to get my fundamental data from, i wrote a blog post last night sharing mu top 3 sources: http://tradeempowered.com/ask-the-trader-where-i-go-for-news/

Akil Stokes
Chief Currency Analyst at http://www.TradeEmpowered.com
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I think Harmonic patterns with H4 and higher TF are better. In any lowwer timeframe, candle patterns and naked price action are best to use.
one more bat on GBPUSD just completed ... take a look !!!
Great Analysis Akil. Keep it up! JG
Akil_Stokes ErrolMuller
I'm sorry but that's not a valid Cypher pattern. The C leg is invalid
Akil_Stokes ErrolMuller
Sorry that response was for your other Cypher comment.
Akil_Stokes ErrolMuller
Good find on the bat, i just got it
+1 Reply
great analysis
+1 Reply
Akil_Stokes AslamBigai
Thank you, we had our bat pattern complete this morning
Nice post Akil, nice post :)
+1 Reply