GBP/USD was a ghost town until the US retail sales report came out. It turned the market into a party and caused price to break out of consolidation to fall past the 1.5300 handle!
No data was released, but that doesnât mean you wouldnât have been able to bag some pips. Taking the retest of the open price around 1.5300 and letting it ride the rest of the day would have resulted in a 50- to 70-pip gain!
Even with the U.K. and U.S. unloading heavy reports left and right, GBP/USD stayed within a 50-pip range. We couldâve made some mad money just playing bounces off 1.5250 and 1.5200!
Watching tomorrowâs UK CPI with interest.
Lucky you if you bought at 1.5200 when bullish divergence emerged! Had you held on until 1.5300, that would brought you a smooth 100 pips!
GBP/USD belonged entirely to the bears yo! From the very get-go, sellers took control of the market, pushing price down a good hundred pips or so by the end of the day. Booyeah!
Pretty quiet day, as no data came out. A break of the Tokyo highs may have been the only plausible trade to take.
I am looking at the pre-news sentiment for this-morningâs UK CPI right now. It looks negative. I have shorted the GBP in anticipation. Letâs see if I am right after the news.
Here is the post-news chart showing how I made 40 pips.
GBP/USD was pretty sluggish in the Tokyo session, but it came to life midday as lower-than-expected inflation figures caused the pound to lose its footing. The pair then proceeded to drop below the previous week low confluence zone for a 100+ pip drop, son!
Rough day for the pound, as it got smashed throughout the London and NY sessions! One option to catch the move would have been to play the fade at the DO at the end of the London session. Assuming you shorted at 1.5150 and aimed for 1.5050, you could have caught the full 100-pip move!
Missed that one. I was out. However, looking to fade spikes that contravene the trend.
We got the usual tight consolidation in the Tokyo session, followed by an upside breakout which led GBP/USD above 1.5100. Buying at the previous day low (green line) wouldâve given you about 80 pips on the day, homie!
Pretty choppy day on GBP/USD, but if you look close enough there was a pretty setup to take! A short at the PDH and aiming for the dayâs lows around 1.5080 would have resulted in a 50-pip win!
Trading the sweet little bounce off the previous day high (PDH) and the 1.5150 handle wouldâve given you a 50-pip drop to 1.5100! Not bad for a day trade, dawg!
Talk about a sharp drop! After briefly making new daily highs midway through the London session, the pair soon reversed and crashed late in the session and eventually tested the 1.5050 minor psychological level! A short at the signal of bearish divergence and long-wicked candle at around 1.5120 and closing when 1.5050 was holding would have allowed you to catch about 70 pips.
We saw interest at the previous week low (blue line) that wouldâve given us a great opportunity to catch the pairâs 120-pip rally!
Caught that one nicely. In fact the USD strength created a sharp drop on all currencies linked to the USD.
Hmmm⌠Maybe I should mark out those Asian lows and highs as well! Playing the bounce off the Asian low yesterday and riding it until 1.5200 would have landed me a smooth 80 pips!
The tight little range we saw in the Tokyo session eventually gave way to a nice little drop to around 1.5150!
it was all about Lady Cable, baby! Taking that break and retest of Fridayâs high would have been the play of the day, as you could have caught the full 100-pip move!
