Currency market: GBP/USD and day trades
|The last piece of the puzzle in an 18 year journey to know and understand the currency price is the 24 hour trade. An overall trade week consists of the 7, 24 hour and weekly trades. Weekly trades were always easiest however the 24 hour trade will beat weekly trade profits by 40 miles. The literally laugh to all this is all are related by the same piece of simple math.
Don't allow the word Math to deter from what is actually traded. A Pen, paper, calculator and 5 minutes per financial instrument is the only requirement to massive profits and successful trading. Knowledge of markets or knowledge of any financial instrument is not required to giant profits and successful trading.
Not only can a child of 12 trade successfully and achieve targets but 99% to all written market talk is useless information. The currency analyst complicates the uncomplicated which means they know not what they say or do. All aren't even trying to be right.
Yesterday trade, today and tomorrow is the exact same trade only different numbers. The trade in 1972 is the exact same trade as 2022. Traders however must believe in numbers and this is complicated for many accustomed to charts and other trade methods. The question is to easy trades, maximum profits and never required to watch a chart, employ stops or question to profits.
I'm not here to condemn an entire industry yet take my words any way you like but my message is easier ways exist to trade and profit than what has been shown over decades. Trading is not an if this then that computer statement. Trading is an exact science due to targets.
See my blog at btwomey.com for the CPI release for example. Total 8 currency pairs achieved perfect targets and each currency at 100 and 200 pips.
Yesterday was posted pure target to target trades for 11 currency pairs. Nothing more required as tops go to bottoms and bottoms trade to tops.
The 7 and 24 hour trade is the same trade and trades within the same overall range. The 7 and 24 hour trade is a trade within a trade. What is traded is a tiny range within a larger range.
GBP/USD
GBP/USD trades within an overall range from 1.1723 to 1.1936. GBP/USD at 1.1700's and 1.1800's trades deeply oversold for the larger picture. Any price next week in the low to high 1.1700's and 1.1800's then longs apply for next week's trade for the weeklies. Targets 1.2000 and 1.2100's easily.
Today's trade works like this: 1.1761 1.1776, 1.1778, and 1.1791, 1.1805 Vs 1.1836, 1.1843, 1.1851, 1.1873, 1.1866, 1.1873, 1.1881.
Or 1.1915 to 1.1735.
The trade within a trade holds. Within the overall context are vital levels for entries and for longs and shorts.
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