DAY 13 – GBP rallying – looking for trades here.

Good morning traders!

NZDUSD – Trend Horizontal between 0.7975 and 0.8109 no trade at present possible order bearish 0.7967
GBPUSD – Trend Bullish – Order 1.5637 BUY Target 1.5693,1.5703, 1.5737
GBPJPY –  Trend Bullish – 153.23 BUY order Target 153.79, 154.12, 154.67 etc etc
EURJPY – Trend Horizontal – No trade
AUDUSD – Trend Bearish (Forming) – At the top of a channel No trade need a solid breakout
USDJPY – Trend Bearish – No trade in a channel.
USDCHF – Trend Horizontal – No trade
USDCAD – Trend Bullish – No trade possible break to the downside but not yet
EURGBP – Trend Horizontal – No trade Low ATR
Looking for some more bullish GBP today, GBPUSD rallied last night and is in progress with it’s hook, GBPJPY is 70 odd pips away from the buy order at 153.23, I need it to be above the next resistance before I will buy. So I think GBPUSD will be the trade for today.
You may notice that I only trade one or max 2 trades a day. That is simply because I am looking for 55 pips or greater, it is much better to trade into that sort of level and move your stops up than keep paying your broker by using staged trades.
You will notice as well up there I’ve put ATR too low. This means that the daily move of a trade is not high enough to warrant trading it. There was a EUR holiday yesterday which means EUR hasn’t been really moving around too much and I expect that to continue today because it’s squaring up day (Monday traders prepare their trades, Friday they get them closed).
I may if I get the signal go into the GBPUSD trade BUY at about 8AM but we shall see, I need it to give a white dot below the candle on the RF1010 (see Pro act traders for details).
Have a good weekend folks 🙂

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