Dear GBP/USD Price Action Signal Traders
The USD/CAD price action signal trade from last time is still on. I am still holding onto this trade and I still don’t see a reason to close this trade, even though it has not generated a spectacular move so far. I believe that there is a bit more move to go with this long trade. If you don’t feel confident, you might try to reduce your position size a little bit.
On the other side, I am seeing another price action trading signal coming from GBP/USD today. It is a bit riskier trade, because the pair is sitting on a multi-month support level. But the GBP/USD price action trading signal from today is saying that more sellers are joining the short-sellers. The daily candle is a bullish rejection- pin bar. I will be looking to go short at around 1.5130. My stop loss would be placed just above 1.5218. My first price target is the level of 1.5000. Depending on the future price action, we can hold the position for longer or take profits. It is really important now to monitor the price action from the smaller time-frames- especially the H4. If I see a formation that fits my criteria as I have exposed in my trading course, I will act on it.