The next trade idea for “6B” GBPUSD FX FuturesCME:6B1!
This trade idea is built on very simple premises.
Simplicity in trading is what we all strive for. Where possible, we should aim to simplify our strategies rather than complicate them with excessive information—unless the additional inputs add clear, actionable value to the trade thesis. While that holds true in this analysis, for the sake of clarity and simplicity, we’ve chosen not to include volume profile study or levels derived from volume profiling.
Also, don’t forget to check out how our example trade idea in Crude Oil played out —posted earlier this Tuesday.
6B Weekly Time frame:
Key Levels
Weekly Resistance: 1.3400 – 1.3425
Daily Double Top: 1.3425
April 21 Mid: 1.3350
April 2025 Developing Mid: 1.3067
Scenario 1: Break and Continuation
In this scenario, we anticipate further upside in 6B futures and GBPUSD. A break above the double top at 1.3425 could lead to a push toward 1.3550. Look for confirmation across other FX futures and signs of Dollar weakening to support this thesis.
Example Trade Idea 1:
Entry: 1.3425 (wait for an hourly candle to close above the double top, then enter on the pullback)
Stop: 1.3350
Target: 1.3550
Risk: 75 ticks
Reward: 125 ticks
Risk/Reward Ratio: 1.7 R
Scenario 2: Swing Failure on Weekly Timeframe
Zooming out to the weekly timeframe, 1.3425 aligns with a potential swing failure at prior resistance near 1.3423. A pullback from this level could provide a short opportunity. Watch for Dollar strength and pullbacks in 6E and 6J to further support this thesis.
Example Trade Idea 2:
Entry: 1.3350 (wait for sellers to regain control at Monday’s mid)
Stop: 1.3425
Target: 1.3067
Risk: 75 ticks
Reward: 283 ticks
Risk/Reward Ratio: 3.7 R
Important Notes:
These are example trade ideas provided strictly for educational purposes and should not be considered trade recommendations.
Traders are encouraged to perform their own independent analysis and thorough preparation before entering any positions.
Please note: Stop losses are not guaranteed to execute at specified levels. Actual losses may exceed predetermined stop amounts.
