GBP/USD Weekly Range Example
Hello Traders!
As you can see this was last weeks trading range.
Open, High, Low, Close
Sunday Opening Price is drawn out to Friday
We knew heading into this month that DXY was bullish and GBP was bearish (sessional tendencies).
As I say as usual the high of the week when bearish will form either on Monday, Tuesday, or Wednesday
(I personally favor Tuesday and Wednesday). The same can be said vice versa when bullish.
I also when bearish the low of the week will form either on Thursday or Friday. The same can be said vice versa when bullish.
Friday typically will give you a higher close from the low of the week when bearish. The same can be said vice versa when bullish.
Overall last week has given traders a Judas Swing. A fake move above S.O.P (Sunday opening price), then a sell off
for the rest of the trading week.
Does this occur every week? No. Will it always be like this? No.
This is the simplest form or most basic level of weekly market templates.
As you can see this was last weeks trading range.
Open, High, Low, Close
Sunday Opening Price is drawn out to Friday
We knew heading into this month that DXY was bullish and GBP was bearish (sessional tendencies).
As I say as usual the high of the week when bearish will form either on Monday, Tuesday, or Wednesday
(I personally favor Tuesday and Wednesday). The same can be said vice versa when bullish.
I also when bearish the low of the week will form either on Thursday or Friday. The same can be said vice versa when bullish.
Friday typically will give you a higher close from the low of the week when bearish. The same can be said vice versa when bullish.
Overall last week has given traders a Judas Swing. A fake move above S.O.P (Sunday opening price), then a sell off
for the rest of the trading week.
Does this occur every week? No. Will it always be like this? No.
This is the simplest form or most basic level of weekly market templates.
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