GBPUSD - Things could take a turn...!!
Happy Tuesday...Here's a free Cable trade idea...!
I got asked why do I give my trade ideas for free?
It's my passion I live and breathe the markets, I know there's so many scammers out there and capital isn't what I am greedy for ever - but giving the community a guidance to help build confidence for your trading journey is the best gift I could give anyone. This will always be free!
GBP - You know for ages if you are an active follower of mine - I am bullish GBP you probably even know my target areas longer term perspective and 1.50 it could go to. However, for now I am really keeping an eye on this formation we have built.- Dollar squeeze could be coming soon....!
Fundamentally:
- BOE Monetary Policy Report (Thursday)
- Negative Rates - I highly doubt its needed
- Positive vaccine roll out
Technical aspect:
Wedge has been formed a break to either direction.
Support: 1.37570, 1.36585, 1.35520, 1.35240
Resistance: 1.37100, 1.37600, 1.38070, 1.38940
Ways you could the trade GBP:
- Wait for the break out and trade the pull back
- Add orders either directions
- Go to a smaller time frame to get into an early position if you're feeling confident
- Follow your own trade plan for further confluence
Key tip: Patience & Discipline.
If you have any questions, message privately happy to help.
All the best,
Trade Journal
(Just a trade idea, not a recommendation)
I got asked why do I give my trade ideas for free?
It's my passion I live and breathe the markets, I know there's so many scammers out there and capital isn't what I am greedy for ever - but giving the community a guidance to help build confidence for your trading journey is the best gift I could give anyone. This will always be free!
GBP - You know for ages if you are an active follower of mine - I am bullish GBP you probably even know my target areas longer term perspective and 1.50 it could go to. However, for now I am really keeping an eye on this formation we have built.- Dollar squeeze could be coming soon....!
Fundamentally:
- BOE Monetary Policy Report (Thursday)
- Negative Rates - I highly doubt its needed
- Positive vaccine roll out
Technical aspect:
Wedge has been formed a break to either direction.
Support: 1.37570, 1.36585, 1.35520, 1.35240
Resistance: 1.37100, 1.37600, 1.38070, 1.38940
Ways you could the trade GBP:
- Wait for the break out and trade the pull back
- Add orders either directions
- Go to a smaller time frame to get into an early position if you're feeling confident
- Follow your own trade plan for further confluence
Key tip: Patience & Discipline.
If you have any questions, message privately happy to help.
All the best,
Trade Journal
(Just a trade idea, not a recommendation)
Trade active:
Short from 1.37 areas. - Taking partial profits.
Comment:
Keeping an eye on price action and fundamental factors of BOE. (Thursday)