New Week New Currency

Morning Dynamic Traders.

This week I have decided to keep it British and follow the GBP.

The GBPUSD should have been on your watch list since way before Christmas, in fact since last Summer as it has been offering chance after chance to make some easy pip profit.

Over the week I will explain the current movements and I will also demonstrate how you could have been making those profits, if you haven’t already.

I’m going to kick off with the events from Monday , below is the hour chart. Straight away you can see that it was a whole day of price falling. I have marked on the chart where Monday is and highlighted the obvious fall in price.

I would normally now show you how you could have made the profit from the fall in price. Rather than just give you the answer, I’m going to ask if you can see how you could have made those profits. My question is this:

What chart pattern is singing at us from the hour chart before the fall in price?

Answers tomorrow please!!

Happy Trading,

Richard Monnery