One of my best weeks trading GBPUSD. My bias for GBPUSD was on the bullish side. And i was expecting GBPUSD to finally break above the 1.5780-1.5800 pivot zone by this week. I woke up at 5am on monday morning to trade the monday opening! Why my bullish view? See daily chart below. What do we see on the daily chart?
- There is a bullish trendline.
- Price touches the trendline 3 times.
- There are 3 higher lows.
The price action is telling us that the buyers are stronger than the sellers. Each time the price drops to a lower level, there are strong demand. And the buyers buy up and push up the price.
Here are my trading results for GBPUSD. This is one key to successful trading. Always keep your losses small or at breakeven, always let your profits run. Trading is a mind game.