Hey Traders,
So not much on my radar this morning except two open trades I have on USDJPY and AUDUSD. Right now, GBPUSD is in no mans land so there's nothing for me to trade, however as we take a look on the higher time frames we can assume where price might go to, and what it might do when it gets there. We know support when broken becomes resistance, and we know GBPUSD is in bearish trend. So putting those together, combined with an overbought RSI and some Fibonacci confluence, we would have a valid trading opportunity, the last thing we need is just a candlestick formation on the lower time frames confirming price will reverse at that resistance level and we have an entry. Yes, my trading is that simple. We still have a long way to go but its still good to have it on the radar.
Like always, If you have any questions feel free to comment below
So not much on my radar this morning except two open trades I have on USDJPY and AUDUSD. Right now, GBPUSD is in no mans land so there's nothing for me to trade, however as we take a look on the higher time frames we can assume where price might go to, and what it might do when it gets there. We know support when broken becomes resistance, and we know GBPUSD is in bearish trend. So putting those together, combined with an overbought RSI and some Fibonacci confluence, we would have a valid trading opportunity, the last thing we need is just a candlestick formation on the lower time frames confirming price will reverse at that resistance level and we have an entry. Yes, my trading is that simple. We still have a long way to go but its still good to have it on the radar.
Like always, If you have any questions feel free to comment below
