Time to know about potential fakeouts l gbp/usd overview for the week 28th August 2022

Forex strategies ways to find imbalance on a currency chart

Trading has been quite choppy during last but as chart speaks to you and there was no institutional and Banks involvement was seen and hence we don’t seen price move strongly in one direction. Up and down both sides price found support and found sellers at the top. I really found a chart of gbp/usd, which I found of my liking and I think it will be better off to share.

Price Pattern to trade Potential fakeouts

If you take a look at the chart you will find reason there was strong rejection of the particular area on the top marked with blue rectangle and when price bounced of the lows this area hold the price for three consecutive rallies and then finally we see a break of the area and then price retreat of these levels and It was quite evident that we will see some reaction when this area will be again test and hence price found resistance again.

Friday rally was very low risk and Now I expect price to find support between 1.3120 and 1.3040 area, and rally again to 1.3280 for a test and this time If it got rejected we will set pending sell limit orders around those levels for another rally towards 1.2950 area, but IF price could not found support then we won’t bother to look at this potential fakeout.

Related Posts

Price Action zones are the areas where we should look for entries l Forex trading strategies.

Forex tradig strategies. Its been quite a while since I talk about the trading education, busy with my new scalping experiments but still the prime motive is…

Forex Trading without indicators and make it as simple as you Can

Trading help for everyone globally for Free We all are facing difficult times and we all need to contribute the best way we can and we should….

Low volitality amid year end Holidays Still bullish on gbp and canadian dollar

Volitality has been very low amid new year & christmas but as this period will pass by I would be up and start buying both pound and…

Trading opportunity Buy Gbp/Jpy..l Brexit No deal put sentiment bullish for gbp

Risk managemen in forex Hi Readers, I have provided some excellent trading opportunities last week with good pips and good thing was that it was properly managed…

Usd Franc Upate Possibly eyeing 0.9931 source of the origin for the next leg down

Check The Usd/chf chart here

Forex Trading with Risk Reward & Low risk pullback entries

How to trade Pullback in Forex Trading Forex is all about sighting opportunities & wait till we saw trend resumes and always consider whats happening on bigger…

Leave a Reply

Your email address will not be published. Required fields are marked *