Last week we had the GBPUSD in a bullish market condition, and it reached the main LT resistance level. Now, it looks like the GBPUSD is being rejected from the main LT resistance level, triggering a bearish market condition:
As long as the GBPUSD keeps trading below 1.6151 I’ll be looking for short opportunities.
Trade Safe!
Raul Lopez
Forex Training
Yesterday the GBPUSD broke through both, an important LT and ST resistance level triggering a bullish market condition. It is likely to continue its way up until it finds the next LT resistance level around 1.6296:
As long as the GBPUSD trades above 1.6020 I’ll be looking for long opportunities.
Trade Safe!
Raul Lopez
Forex Training
The GBPUSD is trading in a very clear bullish market condition, as long as it trades above 1.5884 I will be looking for long opportunities:
The next LT resistance level in the GBPUSD is at 1.6296, more than 380 pips from where the market is currently trading.
Trade Safe!
Raul Lopez
Forex Training
The GBPUSD is trading in a bullish market condition, as long as it trades above 1.5643 it will be bullish and I will be looking for long opportunities:
The next LT resistance level is at 1.5972 (TP orders must be set below this level).
Trade Safe!
Raul Lopez
Forex Course
The GBPUSD is trading in a clear bearish market condition since yesterday. I’d like to see how the pound behaves around the ST support and resistance levels:
As long as the GBPUSD trades below 1.5570 I will be looking for short opportunities.
Trade Safe!
Raul Lopez
Price Action
I’ve got a signal to go short in the GBPUSD, it is trading in a bearish market condition, the next LT support level is at 1.5660, so we’ve got plenty of room for a good RRR. This is how my short term chart looks like:
This is where I have my levels:
Entry: 1.5908
SL: 1.5957
TP: 1.5690
So I’m risking 49 pips for the possibility to make 218 (a good RRR, what do you think?)
Trade Safe!
Raul Lopez
Price Action
The GBPUSD traded for month and a half in a not well defined range, it was difficult to find a trade because it was rejected at random levels, therefore it was impossible to determine where to enter the market in the short term charts. Earlier this morning though, the pound broke through an important LT resistance level, as well as its short term level, triggering a bullish market condition:
I will be looking for long opportunities. The next LT resistance level is at 1.6352, around 250 pips from where the GBPUSD is trading right now.
Trade Safe!
Raul Lopez
Forex Training
Apparently the GDP announcement got things moving in the GBP crosses (at least most of them). The GDP came out at 0.8%, forecast was 0.4%, it was a good figure, but not as good as the movements we saw this morning, I guess sometimes traders need a catalyst to get things moving.
GBPJPY is in a bullish market condition, next LT level is at 135.05
GBPCHF, bullish and next level is at 1.5856
GBPCAD, bullish and next level is at 1.6386
The only wan that is still trading in a range is the GBPUSD, not that well defined by the way, so I’m staying out of this one.
Trade Safe!
Raul Lopez
Forex Training
The market is getting clearer and clearer by the minute, yesterday I was unsure about many currency pairs, they were either trading at an important level in a not well defined range in the short term charts, or unsure about the long term levels.
But things are different now, most pairs cleared up their path and are in the clear market condition, heading directly to the next LT level.
Today a like the Majors:
EURUSD – Clear bearish market condition (shorts in play)
USDCHF – Bullish when trading above 0.9697 (longs in play)
GBPUSD –Bearish when trading below 1.5730 (shorts in pay)
USDJPY – Clear Bearish market condition (although I don’t think I’ll open a trade in this one because of a possible BOJ intervention).
That’s my plan for the majors!
Trade Safe!
Raul Lopez
Forex Training
The GBPUSD is trading in a bullish market condition, I have set an stop order to go long at 1.6023:
My SL is at 1.5965 and my TP at 1.6330, I’m shooting for 307 pips and risking only 58 pips, good deal isn’t it? I’m using a Risk-reward ratio of 5.3:1
It’s important to note that the GBPUSD should not close below 1.5974, otherwise I will cancel it
Trade Safe
Raul Lopez
Forex Course
The GBPUSD was trading in a short term, not well defined range, but earlier this morning it broke through the resistance level triggering a bullish market condition:
I will be looking for long opportunities in the GBPUSD. The next LT resistance level in the pound is around 1.5895 (we have plenty of room before the market gets there).
Trade Safe!
Raul Lopez
Forex Training
The GBPUSD is ranging around a long term important level:
Since the range the GBPUSD is trading in is not well defined, I’m just going to wait for the pound to break the ST range:
If the GBPUSD breaks the upper green resistance level, it will trigger a bullish market condition and only long opportunities will be in play.
If the Pound-dollar breaks the lower support level, it will trigger a bearish market condition and only short opportunities will be in play.
Trade Safe!
Raul Lopez
Forex Training
Last week the GBPUSD traded in a range in between 1.5478 and 1.5334, today, the GBPUSD broke that range, it broke the bottom of the range triggering a bearish market condition:
GBPUSD
As long as the GBPUSD trades below 1.5334 I will be looking for short opportunities.
The next LT support level is at 1.5190
Trade Safe!
Raul Lopez
Forex Training
The GBPUSD is also trading in a bearish market condition, it is just a few pips away from the ST resistance level, so as long as the GBPUSD keeps trading below 1.5474 I will be looking for short opportunities:
GBPUSD
Yes I know, the existing home sales date screw every single currency pair up, but hey, the GBPUSD is still trading below the ST resistance level, so lets keep an eye open on the pound ok?
Trade Safe!
Raul Lopez
http://www.straightforex.com/
The GBPUSD is trading in a very strong bearish market condition in both, the long and the short term charts:
GBPUSD
As long as the GBPUSD keeps trading below 1.5727 I will be looking for short opportunities. Longs are out of play.
Trade Safe!
Raul Lopez
http://www.straightforex.com/