Direct from the desk of Dane Williams,
This is not your average forex broker email.
In yesterday’s email, I talked about joining the Cable bulls and longing GBP/USD.
You can click the link there, but here’s a quick chart refresher.
The short term zone can be used to manage your risk around if you’re aggressive but as always, the trade isn’t invalidated until price moves below the higher time frame zone.
Well, as I talked about on the blog today, GBP/USD moved straight to the next zone of resistance and no matter where you entered off that zone, your drawdown should have been non-existant.
Take a look at the updated Cable hourly chart.
GBP/USD Hourly Updated:
Straight into the next zone of higher time frame resistance, where price is now starting to come off.
Can you see by now how the higher time frame support/resistance zones that I talk about in my blog are then traded around by zooming in and watching the intraday price action?
If you have any questions about this setup or the simple support/resistance trading strategy that I use, then simply hit reply to this email.
I read and reply to everyone inside my Inner Circle who takes the time to email.
Best of probabilities to you,