GBPUSD Sunday is just great to prepare your charts for monday!

Hello dear readers!

Ok, there was a nice movement on the news, on all symbols. GBPJPY has made a very nice descending jerk about 330 points long. If one has followed all points, that i have mentioned in the previous post, it wasn't really hard to take about 100 points from it. Flat levels, that I gave you on the picture, wasn't broken at all ( I mean broken upwards), and also there was a good chance (not only once) to open a trade.

A picture says it all



Please, have a look at these small rectangles - I marked out some points, where the price didn't manage to break out flat border. And then take a look at dark violet rectangle - there was a good entry point - arrangement of all MAs in one point is the sign of following reverse. Also it was possible to use delayed order, but I prefer to open manually, so the 1st variant worked for me.
Anyway, if you still have questions about this situation, please, let me know, so I will be able to answer them.

Ok, now let us take a look at the GBPUSD. Interesting situation here as well.

Here is a picture



Take a look at the bold red line on the picture. Mention, how it was a resistance, and then it has been broken, and, once again, now it just became a support. Just at the same price GBPUSD has stopped. It is called Pivot Point, and it is very important in the trading. If it will be broken now for real, then GBP will fall, for sure. Otherwise, it can bounce from this line, and continue its movement upwards. Here you can read a full chapter about this element - http://www.masterforex-v.su/002_004.htm
And in the same chapter you will be able to read about DJ pivot point and about Rudolph Axel levels - they are important as well and will help you to learn how to define these levels on your own.

Also I have mentioned other important levels on the chart. I hope this will be some help in your trading. When forex will be opened on Monday, even at Asian session I will post review of the Asian market 1st, and soon of the European also.

Stay tuned!

Btw, if you are bored, just like me, with downloading all the news every day or week from the Net, you can simply subscribe here for DJ news, and they will be delivered right to your E-mail from the first hands. It is really convenient.



Best Regards,
Anthony Schneider.