GBPUSD Naked Trading BUY and SELL you chose
Now for those of you trading this nasty pair (meaning good) I have 2 set ups and 4 predictions.
Simple and easy.
Set up:
BUY
1. It can push up, retest previous resistance that it broke and continue its trend up. You enter on the retest.
2. If market pushes up and It doesn't retest, wait for a correction ( mini consolidation before an expansion = push )
a. To get into a correction, I would wait for market to create a zone where prices doesn't push down (creating sort of its own support zone) but stay in that area. I would enter on that support zone and have my SL below the support.
SELL
1. It can push down, retest previous support that it broke and continue its trend down. You enter on the retest.
2. If market pushes down and it doesn't retest, wait for a correction ( mini consolidation before an expansion = push )
a. To get into a correction, I would wait for market to create a zone where prices doesn't push up (creating sort of its own resistance zone) but stay in that area. I would enter on that resistance zone and have my SL above the resistance.
Why BUY?
1. Market might want to take out the previous Highs and want to keep pushing up. It has been in a great up trend.
2. Market will push down fake sellers and begin to push up to the moon.
Why SELL?
1. 3 mountains have been created on the 1 HR and 4 HR. ( 3 mountains is a reverse pattern )
2. Overall 4 HR market is creating a rising pendant. ( rising pendant is a reverse pattern )
3. Market will spike up tricking buyers and begin to push down like there is no tomorrow.
Simple and easy.
Set up:
BUY
1. It can push up, retest previous resistance that it broke and continue its trend up. You enter on the retest.
2. If market pushes up and It doesn't retest, wait for a correction ( mini consolidation before an expansion = push )
a. To get into a correction, I would wait for market to create a zone where prices doesn't push down (creating sort of its own support zone) but stay in that area. I would enter on that support zone and have my SL below the support.
SELL
1. It can push down, retest previous support that it broke and continue its trend down. You enter on the retest.
2. If market pushes down and it doesn't retest, wait for a correction ( mini consolidation before an expansion = push )
a. To get into a correction, I would wait for market to create a zone where prices doesn't push up (creating sort of its own resistance zone) but stay in that area. I would enter on that resistance zone and have my SL above the resistance.
Why BUY?
1. Market might want to take out the previous Highs and want to keep pushing up. It has been in a great up trend.
2. Market will push down fake sellers and begin to push up to the moon.
Why SELL?
1. 3 mountains have been created on the 1 HR and 4 HR. ( 3 mountains is a reverse pattern )
2. Overall 4 HR market is creating a rising pendant. ( rising pendant is a reverse pattern )
3. Market will spike up tricking buyers and begin to push down like there is no tomorrow.
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