Hello traders welcome to a new trading day. I looked at the charts today and see that there was very little price action on most of the currency pairs. Traders I have looked at the charts and I have to say I do not like what I am seeing as there is very little price action. I would think this is that in a week the FOMC will announce the interest rate and if they are going to raise it, Traders are just staying on the side. Trades my suggestion is to trade a demo account……
Plan Your Trade and Trade your Plan !
OK let us take a look at the currency pair of the day that is the GBPUSD- This is the 30 minute chart.l have looked at this chart and remains in a very nice down trend. I would like to see price action give us a nice bearish candle below the daily pivot and we can enter this trade at the price of 1.4994. I am looking for a retest of the pivot for conformation. I would like to take profit at the support zone as marked on the chart and the S1 pivot point at the price of 1.4947. This could be a nice 40 pip trade today all we need is price action.
Thank you traders and we will talk with you soon…..William