Trading UK Election – Which direction and which pair?
It’s a long time since I’ve made a blog post. My recent updates have been into twitter (also limited if you were to consider frequency from last years and many years ago). Many students came to me and feedback for my lack of blog posting like last year. I remembered I gave very clear levels and some might even considered that as trigger or target areas.
I stopped because I was thrown a question last year when I made analysis into EURUSD at 1.21 that it will drop to 1.11. I was being questioned by my lawyer:
What’s your risk and what’s your benefit?
I was truly ever hit hard on my head. My lawyer listed all the risks and none of my benefits can make its ground according to him.
Today I’m writing again, with only one hope that my belief would stand true. I only hope to use your tweet to motivate many people out there, those who have attended our course. I hope that whatever is the trade outcome, if you have benefited from my blog post, please tweet it out on either your pip win or pip loss. Please, I hope I won’t need to ask again. To the seniors – remember your path and journey when you first started…..
I have a few notes here:
- The market getting more volatile now, moves are more wild now. So pls use the same broker as this price chart. This is especially true if it’s minor pairs or exotic, like the one I’m analysing – GBPCAD now. Also prudent to use this link for account application: http://bit.ly/liveacct2
- Whatever I wrote is not trade recommendation, it is to let you see what I’m seeing, what I do for analysis. Reason is clear, it is for you to learn from it so that you can acquire the experiences
- Apply proper trade management and position sizing
- I hope to write such blog post 2-3 times a week. Do keep a lookout in twitter
Big Picture Analysis
Had a week close below strong levels, and now price retracing to it, showing resistance to this strong zone.
Bearish expansion (WR2B). Price shows WR in H1 boxes.
1234 Seen, below chart marked F6 and also 13TL. Also intermediate strong resistance marked at red highlight. If price trades above this zone, then bearishness in this pair must be questioned. Thus this zone can be viewed as a sweetspot.
The recent low at around 18150-18250 acts as first support. Remaining support will come when recent low broken.