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GBP GOV CARNEY IS ABOUT TO SPEAK - COMMENTSWell most of the participants are expecting a Pound to go down, but we already had a surprise effect with interest rate decision, so what to expect now?
1 Economy - nothing has changed yet, even though G is leaving, it will take time
2 Friday - due to some explanations on Behavioural finance studies, the market is most likely to be illogical during
the Friday, so any move that might happen on Friday can be considered as a false one
3 Technical Analysis - in a short term perspective the price can actually have a volatile day
4 in case of a late signal there is a possibility for a stationary market later, so the moves can happen during the Monday's Asian session.
So choosing not to trade today at all might be a good idea my fellow traders!
Have a great day!!! And don't destroy your 2 days weekend with a 1 day - Friday!!!
How to start a day of tradingDay trading after the opening of the preparatory work
1, to determine whether the market today is a unilateral or shock - the price in the 3 minute chart 30 minutes the highest price and the lowest price between the region up and down the volatility of the shocks, a breakthrough may occur.
2, judge the midline trend - if the 60 minute chart trend is up, as far as possible from the start; on the contrary, from the short start. Short-term players don't have to stick it, in terms of the unskilled novice straddle thinking conversion reaction not so fast, it is recommended that only along trend chart for 60 minutes to do.
3, the analysis of long and short popularity --- we can change from the volume and position of the popular strength of battle. Put a lot of prices did not fall, may have bottomed out, amplification and its price is rising up, short-term may rise to the first. Rise and fall process requirements are different, the rising process needs continuous uniform volume, Volume 3 minutes K line graph in uniform, indicating that the rally will continue, if there is a substantial reduction or a very large amount, up may come to an end. Fall is different, as long as the next break down some of the key positions when the volume, the downward trend will continue. Prices rose to a certain price is up, positions has been increased, trading pending the price than a low that prices are likely to fall. Masukura stagflation, short selling is a very good opportunity, or Masukura lag down, easy to rebound.
4. Look for key points -- draw a diagram of pressure, support, the trend line and other such as FIB retracement withdrawal line, the price reached or break through the key points to take prompt action.
How to do a good day short tradingFirst, select varieties
Not all varieties are suitable for day trading, in order to obtain a profit in the day trading, the first thing to choose a good subject matter. Only those with a large variety of volatility and liquidity can make traders make profits quickly.
I recommend: EUR/USD, AUD/USD, USD/CAD, GB/U, XAU/USD
GBPUSD DOWNSIDE READYANOTHER POST TO SUPPORT MY PREVIOUS BIAS ON GBPUSD AND THIS BREXIT AND HOW ITS PAINTING THE PICTURE BEFOREHAND
GBPUSD LOOKING SET TO MAKE LOWER LOWS AND ULTIMATELY SHOOT ENGLAND IN TO A RECESSION
A-B-C-D STRUCTURE
PRICE HOLDING FIRM BELOW 1.4710 WITH WEAKNESS AND MACD DIVERGENCE
1.35000 WILL BE THE FIRST TARGET
above cloud good candle volume money flowmacd and stoic crossed/cci and percent r upper range see why this is essential in our book on amazon/obv mf good/relative strength good/adx trending/diversify /stop loss 8 ema daily close below
BEARISH BAT PATTERN ON GBPUSD AT RESISTANCE ZONE A short trade idea on GBPUSD. Coming into previous resistance zone while forming a potential bearish bat pattern completing at the 0.886 retracement. This offers a nice short opportunity for those pattern traders out there.
Targets at 38,2 and 61,8 % retracement.
Stops above X.
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