Thursday, September 10, 2020

🔥 GBP/JPY and GBP/CHF Trade Ideas | How to Use Pivot Points to Trade Breakouts

Today's forex trade ideas, trading tips and discussions for beginners, and the latest news affecting the forex market.
September 10, 2020
Trading today? Read this first.
Pip Diddy's looking at GBP/CHF today as the downside momentum seems to have picked up and the pair tests a major support area.
Candlestick pattern of the day: Gravestone Doji


The Gravestone Doji is a Japanese candlestick in which the open and close price of the candle is at the same level or is very close to the same level. Here's how to identify it and what it means.

Trade idea: Long term short on GBP/JPY
Cyclopip's looking at Guppy this week for a longer-term position play, going with a recent shift in bias on the British pound as no-deal Brexit fears rise. Here's what he'll be doing.
Lots of red for GBP pairs within the last 4 hours

Using MarketMilk's GBP Pairs watchlist, we can quickly see how many pairs increased or decreased. If we look at the 4-hour time interval with the last closed price stream, here's what we see:

Robopip's short-term bollinger reversion strategy bags 75 pips this week
The loss on CAD/CHF erased the second win on USD/CAD. Fortunately, the latter’s gains on its first play were large enough to keep the system safely in the black. Here's the deets!
How to use pivot points to trade breakouts

As with all support and resistance levels, pivot point levels won’t hold forever. In this forex lesson, we teach you how to make pips when pivot points fail!

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