Trading a longer time frame helps fit trading into your schedule while you move from day job to full-time trading. Learn to trade longer time frames with 
Howdy Folks,
I didn’t post a New York preview this morning because I was busy selling USD/CAD this morning. I wish I had paid more attention to GBP/USD though because it had a great run up to the 61.8% ratio after $1.62 broke long. If you were around, I hope you made some pips on that run. Anyway on to this evening’s GBP/USD chart. There is some fun stuff going on GBP/USD’s daily chart. I talk about “bargain days” often in my weekly webinar and tonight we have what I would call a “bargain day” live, and in living color to study. There is a plethora of nifty stuff happening around this bargain day including the bottom of a larger ascending channel which has broken to the downside, a minor channel trend line and of course the round number of $1.63 just above today’s high. In my opinion $1.63 will probably be challenged overnight so I’m looking for a sell north of $1.63.
Here’s to hoping you U.K. traders gun $1.63, hint hint….
Best of luck,
Ryan
IMPORTANT NOTICE: These comments are for information purposes only. My opinions or other information contained in this post do not constitute investment advice. It should not be understood as a direct recommendation to buy or sell any currency contract or other investment vehicle. Forex trading involves substantial risk of loss and is not suitable for all investors.
Ryan,
Are we expecting a correction in GBP Lower to 1.62 area?
Thnx
Hi Radha,
I do think that is possible, sometimes these “bargain day” corrections can be two or three days in length and I’m curious of $1.64 will hold. I don’t think it will but with NFP coming out tomorrow who knows what will happen at this point. We’ll just have let the price action lead the way.
Ryan