Hello traders welcome to a new trading month as we enter the last month of the year and a lot of data released this week as well. We are seeing some reaction to the data released in Asia and we will wait for the London open to take any trades. Today does not look to be easy and we must be alert of fundamentals as they come out all week very busy with this. I am very cautious with my entry as that is key and get break even as soon as possible.
Plan Your Trade and Trade your Plan !
OK let us take a look at the GBPUSD- This is the 30 minute chart.l have looked at this chart and remains in a down trend. I would like to see price action come back to the R1 pivot point at the price of 1.5077 for a short entry with a bearish candle pattern. I see the daily pivot and I am expecting a bounce at that. We are looking to take profit at the support zone as marked on the chart at the price of 1.4996.
Thank you traders and talk with you soon…. William