Hello traders welcome to a new trading day as we look at the end of our trading week. Well today is as I would say really the last day of real trading as we approach the holiday season and we will see a slow down in volatility in the market till Jan4th, 2016 when all the traders return back to trading.
Remember Traders to Trade Safe and Trade Smart !
OK let us take a look at the GBPUSD- This is the 30 Minute chart. I see we are bearish on the higher time frames so my bias is to short this. At this time we are at a good shorting opportunity however we are to close to support so let us get a pullback to the R1 pivot at the price of 1.4975 and enter there with a bearish candle. I am looking to take profit at the support zone as marked on the chart at the price of 1.4874.
Thank You Traders and we will talk soon….William