#GBPJPY Before & After Analysis [What to look for in a Parabolic Trend]
- Chris Trader
- Aug 2, 2024
- 2 min read
BEFORE - A nice sell signal, below support [blue line] in addition to sellers all in and a Parabolic Trend begins to target 190.36 and 185.72, daily chart simple trading takes 10 minutes per day [great for any traders]
In the current market scenario, a compelling sell signal has emerged, indicating a potential shift in the trading dynamics. The price action has dipped below a crucial support level marked by the blue line, further reinforcing the bearish sentiment among traders. Notably, a significant number of sellers have entered the market, reflecting a collective stance on the downward movement of the asset.
Moreover, the emergence of a Parabolic Trend adds an interesting dimension to the analysis, suggesting a sustained downward momentum with specific price targets in focus. The targets of 190.36 and 185.72 serve as key levels where traders might anticipate significant price reactions or trend reversals.
Analysing this setup on a daily chart reveals a straightforward trading approach that requires minimal time commitment, making it an attractive proposition for traders with varying levels of experience. With just 10 minutes of daily monitoring, traders can effectively navigate the market dynamics and capitalize on potential opportunities presented by this setup.
Overall, this trading setup not only offers a clear sell signal and defined price targets but also provides a convenient trading strategy that can accommodate traders with diverse preferences and schedules. By staying attentive to the evolving price action and adhering to the outlined trading plan, traders can potentially benefit from the projected price movements and optimize their trading outcomes.
VIP Members' who followed the Daily Video Analysis could have banked over 1,200 pips, so far. With just 1.0 lot that's $1,200 profit in a few days "work". A simple way to trade that I have been using for over 30 years. Chris
Comments