Currency Pair: GBP.USD Time Frame: Daily, 4hr, 1hr & 5min Predicted Direction: Long
Live GBP.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
Should my daily predicted direction be incorrect no trade opportunity will be generated.
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This setup is one we have to let go for today, no pullback occurred so no possible entry.
Hi Tom,
Thanks for the great analysis.
Do you mind explaining why do you wait for pullback and consolidation period before entering the trade?
Is there a specific reason for this or is it just based on your own trading experiences?
thanks!
There's a mixture of psychology and historical data.
Every market that is controlled by human will impulse and consolidate, it's a matter of timing when to enter in addition to indicators.
It's something that i would love you explain in-depth very soon as it's a longer topic than what we can see on the surface.
Thanks for the great analysis.
Do you mind explaining why do you wait for pullback and consolidation period before entering the trade?
Is there a specific reason for this or is it just based on your own trading experiences?
thanks!