Hello traders welcome to a new day as all the markets are open today and excited to be back trading today. Traders I have looked at the charts and we have some very good trade set ups today. We do have data today just enough to get some price action and that is what we need. Be cautious in your trading today as really this is like a Monday trade.
OK let us remember there is a lot of CNY data in the Asia session today. Let us look at the trade plan on 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 looking at a pullback to the daily pivot point. I would like to see it go to the R1 where we need a bearish candle and enter a short trade at the price of 1.4301. I am looking to take profit at the support Zone area of price 1.4246
Thank you traders and we will talk soon…..William