Our trade for the currency pair GBPUSD was triggered this morning. Below are the charts. Since we are trading in a smaller timeframe i.e. 8 hours, price will move faster then the daily chart. We aren’t trading in the daily timeframe because price is above a Kumo Cloud and we want to “walk” down through it. Once we have cleared the Kumo cloud on the daily timeframe, we will will trade solely on the daily timeframe until the charts tell us otherwise.
Below is the chart with all the support lines drawn.
For EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose .