More trade opportunities on the GBP crosses

candlesticks

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.

GBPNZD Signal

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:

GBPNZD 1H

I would definitely feel comfortable trading a breakout of the upper extreme of the range… without question…

Here are the details of my order:

Entry: 2.4040
SL: 2.3963
TP: 2.4551

I have other orders open in other pairs such as: GBPAUD, GBPCAD, NZDUSD.

Your Turn

What do you think about the GBPNZD signal’

What other currency pairs are you monitoring/trading?

Share your thoughts.

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .

  • Eviano

    Hello, Raul. I am very hopeful of the GBPJPY also. Please, take a proper look at it and advise. thank you.

    • Raul Lopez

      Hello Eviano… I’ll look into it and let you know…

  • dominiek

    hi raul… first of all @pankaj: google translate dude!! raul… thx for ur analysis… i agree with you this a a very bullish market… every dip i see as a buying opportunity. But again ur sl very small… am almost sure it will get triggered . lol. My opinion about NZD is that tonight (news release) the nzd will get stronger. The expectations are very low so in my opinion a much better figure will be released then what the markets expect… i am even buying in before the release. But i also believe sellers will come in later again… so after release (if bullish for nzd) i will sell. what do you think raul?

    • Raul Lopez

      Hello Dominiek,

      As always, I really appreciate your comments… they certainly add to the conversation, and even when sometimes we disagree, other traders can get a broader perspective of the market…

      I’m still waiting for the GBPNZD to break through the upper resistance level… there still the possibility to take short term trades now, even shorts from the upper resistance level, but I’m going to keep my entry stop order for a breakout trade…

      What do you think?

      • dominiek

        Hi Raul,… yes I believe you are right… if it breaks the resistance the uptrend will continue… still i believe your sl way to close and will get triggered. I hope the bulls not getting exhausted in the GBP crosses… even GBPAUD daily seems like a short setup now. But is a bullish market so lets wait n see.

        • Raul Lopez

          I hope not Dominiek, I’m still looking to trade some of the GBP crosses… I wouldnt like the idea of getting burned!

  • Pankaj Mehra

    Tengo otras órdenes abierta en GBPAUD, GBPCAD, NZDUSD y otros. ? what do you mean here, sir ?

    • Raul Lopez

      Sorry about that!!! Its been fixed already!