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Britishpound

GBPUSD, How to recognize a direction?..You can recognize e next most possible movement near the Key levels with these two simple examples. A breakout is one of the most common trading strategies, yet if you are new to trading or have some experience trading breakouts, you may find that they're not as easy to trade as they appear. Often the breakout turns out to be false, losing you money. The breakout bounce trading strategy can reduce the number of false breakouts you lose on, saving you money, and still provide you with an affordable entry price. A false breakout occurs when the price moves above resistance or below support but then quickly retreats back into the former range. Traders who made a trade thinking the breakout was real will lose money if this occurs. The breakout bounce trading strategy avoids this scenario. Instead of making a trade when the breakout occurs, you will wait for a pullback. If an upside breakout occurs, you will watch as the price moves higher, but won't make a trade until it begins to move lower again toward the original breakout price. How these pullbacks reacts will determine if you make a trade or not. By being patient and observant, you can determine if the breakout is real or fake. Push like if you think this is a useful idea! Before to trade my ideas make your own analysis. Thanks for your support!
by Yuriy_Bishko
7
GBPJPY uncertainty but has a high chance of bouncing.Support found around long term SR zone, the 200 Day MA and the uptrend-line. However, the British economy is not looking too great and the GBP has more chance of falling than it does of bouncing and continuing uptrend. Upcoming Japanese elections also set to cause more possible confusion. Another possible reason for a drop is the RSI has not really come down all too far and there being a huge sell off this week. In a normal circumstances, I'd have labelled this a LONG.. but with the U.K. economy not doing great and tensions fueled between Europe and England over Brexit, the pounds does not have such a great outlook. OANDA:GBPJPY
by ExDee
2