On this weekly chart, we are drawing Pitchfork channels on GBPUSD.
On the weekly GBPUSD chart, we can see that the pair is in the downtrend Pitchfork channel and is testing an uptrend line 1.4100 level. We could see a swing down from this level as it is just below the 200 SMA 1.4266 level.
We have used the combination of the top-down trading analysis and the Andrews Pitchfork channels to get to a trading entry stop loss levels and targets. Look early next week first for a short trade entry on the price action move to 1.4130-1.4150 zone with the SL level above the 1.4200 level.
The broker of our choice! Open the account and get the discount for our services!
Crypto and Forex managed accounts!
CRYPTO AND FOREX MANAGED ACCOUNTS
H.V.T. program!
Only five seats left for the April trading group! Registration ends today!
Happy trading! (click on the chart to enlarge it)
Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position Risk Free. If you want to learn all about it and become a professional Trader, sign up now we are accepting Bitcoins!