Somnath Das
Independent Analyst
URGENT PAIR GBP/USD: UPTREND H4 CHART
All these 3 pairs have probable chances to meet the developed targets. All one way upside to cut previous high.
BUY GBP/USD: ENTRY: 1.3213, TARGET: 1.3338/1.3380, SUPPORT: 1.3134
FXStreet Forex Interactive Chart:
-636891825965991174.png)
ULTRA SPECIFIC CETERIS PARIBUS STRATEGY:
“Without strategy and execution, a great idea will remain just a good idea.”- Dom
By keeping in mind the projected target price constant trade frequently 3- 4 times a day. Maintain proper margin for carry forward. Trader should maintain back up to 600 points (approx) if opposite scenario happen. Hold the open positions overnight in case of verified short term trend for maximum profit.
Always maintain a portfolio of 3 out of 3 pairs and distribute total trading volume among them.
USEFUL MARKET DIRECTION | TRADING LEVELS:
The price is always changing, will you lead or follow?
BUY EUR/USD: ENTRY: 1.1315, TARGET: 1.1414, SUPPORT: 1.1230
-636891829548651839.png)
UNIQUE TRADING PROCESS:
Trading process is based on ZIGZAG Analysis and combining with ADX. First, predicting buy/sell any type (limit/stop) intraday. Second, identifying any type of hourly candlestick pattern formation, it is suggested to enter the 1st position (buy/sell) at any level between the average of daily entry and sl price.
Third, try to book the initial quick profit to verify predictions validity. This process can be repeated twice or thrice in the sidewise market. Also, the distribution of positions by the averaging method will be helpful. This way we can maximize intra day profit provided that the daily market direction is verified and holds true.
Fourth, on the fundamental side, we will check the price action more during the news in the economic calendar on CPI (Consumer Price Index) data of EUROPE, UK, USA, JAPAN and INDIA. Trade deficit data is important to follow for more volatility.
FXStreet Forex Interactive Chart:
BUY USD/JPY: ENTRY: 110.09, TARGET: 110.99, SUPPORT: 109.50
-636891831009629130.png)
“Every correct Decision you make takes you one step closer to being Wealthy and Successful”- © Somnath Das , 2018-2019
-636891831879800260.png)
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.