I think every day I go to these live seminars something new kicks in, anyway – yesterday I was looking at GBPUSD, in the Live session the trainer, Scott said you should spend time looking back at what happened because the banks repeat themselves.
So I did.
Here’s GBPUSD 10 minute chart from last night, I placed a SELL when it broke below the pink line. that’s a support from the daily.
Now last night when I looked at this I went back to the last time the currency pair was at this place. Check this out.
See how it almost replicates. Although the new pattern is slightly lower look what happens directly afterwards. A massive retrace back down.
So a month ago they tested these levels and dropped back, could this happen today?
Anyway I’m sitting tight now my GBPUSD sell is $0 stop loss. So I’m looking forward to what happens with this trade today.
My first target 1.5299. Let’s go!
By the way you can get a 10 day free trial of the software etc check the link above.