1st of all thanks for all of the great feedback on my recent article in FX Trader Magazine. You guys are great!!! Now to the charts!
GBPUSD is making it's way down to a key decision point level. I call this level a decision point because how I decide to trade this will be determined on what type of decision is made by price action at this level.
If you've been following myself or anybody at Trade Empowered, then you've heard us mention the "If/Then" thought process. Here's a perfect example of how/when it comes into play.
"IF" price action holds at that level "THEN" I'll be looking for a long opportunity. "IF" price action creates a Lower Low, Lower Close (NSH) "THEN" I will shift my mindset & look for a trend continuation type of trade to the bearish side.
We'll be keeping a close eye on this pair in the Live Trading Room today, and some pairs with similar setups will be the EURJPY and USDCAD.
**KEEP NOTE*** We do have FOMC Minutes being released this afternoon at 2pm New York time.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
TradeEmpowered.com -The Premier Online Trading Education Company
YouTube goo.gl/Afk5sG
Facebook: goo.gl/VTQngr
Twitter: goo.gl/FlH33l
AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)
GBPUSD is making it's way down to a key decision point level. I call this level a decision point because how I decide to trade this will be determined on what type of decision is made by price action at this level.
If you've been following myself or anybody at Trade Empowered, then you've heard us mention the "If/Then" thought process. Here's a perfect example of how/when it comes into play.
"IF" price action holds at that level "THEN" I'll be looking for a long opportunity. "IF" price action creates a Lower Low, Lower Close (NSH) "THEN" I will shift my mindset & look for a trend continuation type of trade to the bearish side.
We'll be keeping a close eye on this pair in the Live Trading Room today, and some pairs with similar setups will be the EURJPY and USDCAD.
**KEEP NOTE*** We do have FOMC Minutes being released this afternoon at 2pm New York time.
Akil Stokes
Chief Currency Analyst & Head Trading Coach
TradeEmpowered.com -The Premier Online Trading Education Company
YouTube goo.gl/Afk5sG
Facebook: goo.gl/VTQngr
Twitter: goo.gl/FlH33l
AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)
Note
Lower Low, Lower Close has us breaking down potential short opportunities on this pair, looking for a move down to 1.3900's
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tieronetrading.com/
The Trading Coach Podcast
anchor.fm/thetradingcoachpodcast
Free Trading Computer Buyers/Builders Guide - tradingcomputerbuyersguide.com/optin-629312741738938873920
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Coaching, Courses & Community
tieronetrading.com/
The Trading Coach Podcast
anchor.fm/thetradingcoachpodcast
Free Trading Computer Buyers/Builders Guide - tradingcomputerbuyersguide.com/optin-629312741738938873920
tieronetrading.com/
The Trading Coach Podcast
anchor.fm/thetradingcoachpodcast
Free Trading Computer Buyers/Builders Guide - tradingcomputerbuyersguide.com/optin-629312741738938873920
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.