Thursday, February 10, 2011

GBPUSD - 4 Hour Chart Analysis

Posting my GBPUSD 4 Hour chart to give you a snapshot of what I am looking at. The chart is self explanatory. Fractals are used to identify market flow. Various session ranges are shown along with daily pivot levels. Trend line shows price reversal that occurred today. Of interest is the triangle formation that has enclosed price action. I expect a major breakout soon.

The charts tell the entire story. It clearly shows the dominant trend and supply/demand levels. The charts are alive and do speak to us. The key is to listen and allow the charts to speak. There is no need to predict the markets. Time permitting, I am hoping to post live trade analysis next week for the 5 currency pairs that I analyse daily. 90% of my trading is done on GBPUSD as I have found it to be the currency pair with the best breakout characteristics. Happy trading.

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