How is your trading so far this week trader? What currency pairs are you trading?
You might think that one of my favorite currencies to trade is the GBP…
But that’s not correct…
I dont have “favorite” currency pairs, or at least not in the way you might be thinking…
My favorite currency pairs are those that have the clearest market conditions, the ones that have clear swings, clear S&R levels, those are the ones I like to trade every day.
So its an endless search for the pairs that have the clearest conditions, this is the only way I can guarantee that I will be trading with the odds on my favor.
And at the end, that’s what really matter, to go long when the market is more likely to move up, to go short when the market is more likely to continue its way down, and forget about trading it when you have no idea of what the market is likely to do.
Do that, over and over again, and you’ll get good results…
There is no secret trader, its all about being in the right side.
Ok, lets look at some of the GBP crosses now.
As you already know, we’ve been trading and looking for more trade opportunities on the GBP crosses in the last couple of months.
You know, each currency pair has its own personality, and one of the things I like about the GBP crosses is that they are explosive.
When they move in one direction, they really move, and fast.
But the reality is that I’ve been trading the GBP crosses because most of them have a clear market condition, and clear levels and swings.
So here is what the GBPNZD looks like:
I would definitely feel comfortable trading a breakout of the upper extreme of the range… without question…
Here are the details of my order:
I have other orders open in other pairs such as: GBPAUD, GBPCAD, NZDUSD.
What do you think about the GBPNZD signal’
What other currency pairs are you monitoring/trading?
Share your thoughts.