In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we discuss opportunities in USD Weakness, GBPUSD and Gold. Both of these trades give us very good high probability technical trading opportunities.
Beginning with GBPUSD, this market has been in consolidation since mid-October. However, in yesterday’s trading prices bounced off the previous high of 1.3011 from back in October. As a result, after 7 weeks of consolidation, prices are close to breaking out to the upside. It’s worth noting that we do need to wait for the confirmation that we always look for when trading these moves.
The other market is the Gold market. In this market, we have seen prices create a technical double bottom off a strong level of a supporting lower trend line, giving us that extra reassurance. Again, we must wait for prices to break and stay above 1481.76 for this trade to be a viable opportunity.
USD Weakness, GBPUSD and Gold – Full Video Analysis
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