FREE

Get The Ultimate Guide to Price Action Trading

  • How to decode what the markets are telling you so you can identify high probability trading setups—consistently and profitably
  • How to identify hidden strength and weakness in the markets so you can “predict” market reversals before the crowd
  • A simple trading strategy that allows you to profit in bull & bear markets (without any indicators)
__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"62516":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default Palette","value":{"colors":{"62516":{"val":"var(--tcb-color-0)","hsl":{"h":20,"s":0.99,"l":0.01}}},"gradients":[]}}]}__CONFIG_colors_palette__
Yes, Give it to me

This Currency is at a Key Area Now.. 

 August 14, 2014

By  Rayner

11-2

On weekly you see price retracing on average of about 400 pips.

At this moment, GBPUSD has retrace about 480 pips and it could either be a steep retracement or a start of something new.

Personally I will trade with the trend till it ends.

gu

On daily you can see that the 1.6700 is a key area that has been tested couple times. And this is where i’m choosing to fight my “battle”.

Long at 1.6665

Stoploss at 1.6565

1st target at swing high

Good Trading! 🙂

  • I was thinking the same but I was not 100% sure about it, but now I have one more reason to think again to open the trade. Thanks Rayner will monitor the pair.

  • {"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
    >