TECHNICAL ANALYSIS SHOWS THAT MOST POUND PAIRS ARE SET UP FOR SOME POUND STRENGTH, WHICH IS TECHNICALLY GOOD FOR GBP BULLS. TRADING PURELY ON TECHNICALS A GBP BULL WILL LOOK TO BUY THE POUND. FUNDAMENTALLY THOUGH ONE SHOULD CONSIDER BREXIT AND HOW DEVELOPMENTS COULD AFFECT THE BRITISH CURRENCY, WHICH CAN GO EITHER WAY. SO ITS BEST TO TRADE WITH CAUTION.

TRADE PLAN UPDATE: 08 MARCH 2019

THESE TRADE PLANS I BASED SOLELY ON TECHNICAL ANALYSIS DUE TO PRICE ACTION OF MOST OF THESE CHARTS. MOST IF NOT ALL TRADE PLANS FAILED, WHICH TEACHES ME A VALUABLE LESSON THAT NO MATTER HOW GOOD OF A TECHNICAL SETUP I SEE I SHOULD ALWAYS CONSIDER THE FUNDAMENTALS THAT DRIVE PRICE ACTION. PAYING ATTENTION TO THE PIVOTS MORE IS ALSO ONE IMPORTANT BECAUSE IT IDENTIFIES AREAS OF RESISTANCE WHERE BULLS MIGHT STRUGGLE. MY BIAS ON THE POUND HAS BEEN BEARISH SINCE BREXIT BECAUSE OF THE UNCERTAINTY. SO THE LESSON IS STICK TO YOUR BIAS AND FIND OTHER OPPORTUNITIES ELSEWHERE IF TECHNICALS AND FUNDAMENTALS DO NOT LINE UP.

GBPUSD H4

GBPJPY H4

EURGBP H4

GBPAUD H4

GBPNZD H4

GBPNOK H4

GBPUSD H4 POST TRADE PLAN

GBPJPY H4 POST TRADE PLAN

EURGBP H4 POST TRADE PLAN

GBPAUD H4 POST TRADE PLAN

GBPNZD H4 POST TRADE PLAN

GBPNOK H4 POST TRADE PLAN

THE ONLY PLAN THAT WORKED OUT.

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