6m 17s: Lenght

To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_trading&ad=q_iKRFMRTRU So, we’ve been inside this blue box and we’re looking for opportunities once again for the market to return in the bearish direction here for the GBPUSD. So, we’ve been looking for opportunities to go short. Rallies into resistance or breakdowns of support. I think this is going to be much more intuitive if we go down here towards the four-hour timeframe. We get down here to the four-hour timeframe and you could see that blue box. There it is. Let me zoom out one more time. There’s the blue box right here on the chart. Let’s zoom it back in. You could see a couple of things here, and we discussed this in the trade room over the past few days. The resistance high on the left-hand side. The yellow-shaded area. The resistance high in the middle at the pink-shaded area. The resistance high on the right-hand side into the yellow zone. If you were in the Trade Room yesterday, you’ll note that I had a sell going into the yellow-shaded area. The 1.3290 to 1.3330-level, the yellow zone. That trade has been closed out with profit as it touched down here into the purple zone. Yesterday, in the live Trade Room, we discussed the fact that if we were going to go short on the GBPUSD, there were two factors that we need to look for. It either needed to rally back to the green zone or the next thing we would look for would’ve been, yesterday of course, the breakdown of the purple zone. So, those were the two things that we were looking for yesterday in the live Trade Room. Break of the purple zone to go lower or a rally back to the green zone to go lower. Very similar to what happened here at the yellow-shaded area. The risk in that scenario of course would be that it breaks back above the green zone and starts pressuring back higher again. So, as it rallied here into the 1.3170, 1.3200-level, into the green-shaded area, it became an opportunity to go short, and I’m in the short. I’m sitting currently about 16, 17 pips of profit. I would like to see of course the market target back down to the purple-shaded area, which is our last support low. A breakdown there, we’ll target back down here towards the blue-shaded area. So, for the day today, in a similar fashion that happened here at the yellow-shaded area, any rally into the green-shaded area, into 1.3170, 1.3200, the green-shaded area. If it rallies there, that becomes a selling opportunity. We’ll target the purple zone, protecting profit as it goes down, and the risk is pretty clear. The risk is that it breaks back above the green zone. Stop loss is above it. Stop losses, for me, is somewhere around the 1.3230-level, but of course you’ll have to determine how much risk you’re willing to put on the trade. But as long as it stays under that green zone, I believe this is our selling opportunity for the day on the GBPUSD. https://www.youtube.com/watch?v=q_iKRFMRTRU Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.