Screen Shot 2015-11-13 at 08.10.20

Hello traders welcome to a new trading day. I have looked at the charts and all I am seeing some really nice trades today. I am concerned as we get close to the US session as there is a lot of data to be released. We only have German Prelim in London session. So we are looking at a basic technical trading day. Remember it is Friday with profit taking. Traders enjoy your weekend break……

OK traders well I think today will be interesting trading as all the major data is in US session. However let us take a look at the currency pair of the day that is the GBPUSD- This is the 30 minute chart.l have say we are currently at resistance. Traders this pairs is still in a bearish trend on the daily chart as this chart and the 1 hour looks bullish. My bias stays with the sell on this pair. I am looking for a close below the daily pivot point and a bearish candle formation to enter this trade at the price of 1.5208. I am waiting to take profit at the support zone as marked on the chart at price of 1.5172. If price goes through this zone look to take profit at the 200 ema as marked on the chart.

Thank you traders and talk soon……William

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.