I can't really go into the "ins and outs" of what I learnt, as it's not mine to share but here are a couple of trades ideas I planned for this morning. I didn't take these, as my coach suggested, for the moment I'm just getting my eye in.
prep
- Trade: Euro open
- Data due: UK Mortgages (low impact)
- News: BoE Weale says "immediate measures needed" to stimulate economy.
plan
- Idea: Choosing to trade around Weale words. I feel that Weale's words could create a GBP sell off, however seeing that it is only Weale (not Carney) the sell off will likely be short lived.
- Trade: GBP pairs. My hope is that the sell off will be enough to nudge price on the GBPUSD down into H4 demand / yesterday's lows, where it can be bought... And nudge price up on the EURGBP into H4 supply, just above yesterday's highs where it can be sold.
what happened?
Definitely beginners luck! Pretty much did what I was hoping for on both pairs.
Chart notes hard to read for some reason, they say:
"1. GBP sells off, helped by Weale's words into resistance/supply"
"2. 0800 EG hits H4 resistance/support, prints PIN and falls/rises"
GU
Chart notes hard to read for some reason, they say:
"1. GBP sells off, helped by Weale's words into resistance/supply"
"2. 0800 EG hits H4 resistance/support, prints PIN and falls/rises"
GU
EG
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