FOREX... is the British pound making a reversal?

Posted on by The INO.com Team

We haven't looked at the British Pound (GBP) lately, as it has been in its major swing to the downside. The question is, is the British pound ready for a comeback?

In our new video, I delve into the depths of the British Pound, and take you step-by-step into my thought process and why we're looking at this market right now.

Whether you're a newbie or experienced trader, I believe you will benefit from this video. In the video we give you specific levels that I'm watching, and target levels that we expect the British Pound could achieve if it breaks over one key psychological level.

As always this video is with our compliments and there is no need to register to watch.

Enjoy and feel free to comment on our blog.

Enjoy the video.

Adam Hewison
President, INO.com
Co-creator, MarketClub

7 thoughts on “FOREX... is the British pound making a reversal?”

  1. Excellent work just as before, however I can't believe I agree with your last issue.

  2. Bill,

    That's a good question.

    As I've said before on this blog, trading and is an art more than a science. Sometimes when you look at a chart you see different formations that tend to outweigh other formations that's when the art comes in. If you're trading on a mechanical system such as the trade triangles you can just ignore this and trade based on a more scientific approach.

    Thanks for a good question and your feedback.
    Adam

  3. Great video, but I am slightly confused. Here you talk about an inverse head and shoulders as being a positive indicator. When in the last video on the S&P a inverse head and shoulder pattern was ignored as an indicator? Is there a rule as to when to look for these patterns and when not to?

  4. thanks Adam,
    I like your trading triangle, but I see monthly,weekly,daily.
    are you going to do 4hourly triangle also? and when?
    thanks

    1. Yosry,

      Thanks for your feedback.

      You never know, we're working on many things at market close and don't be surprised to see some intraday indicators coming soon.

      All the best,
      Adam

  5. Hi Adam,

    As always another great video. I thought it was really interesting that you mentioned preparing oneself to trade if the market should move above 1.50; there is always a temptation to overtrade at unimportant market levels rather than wait patiently for a significant level to be reached AND THEN knowing how to trade it having prepared.
    Your videos always help me to see the bigger picture.

    If the GBPUSD does trade above 1.50 would you wait for a daily close above that level and then enter on a pullback or enter at the closing daily level?

    Thanks

    David

    1. David,

      For my own personal trading style I would just buy once the market penetrates the 1.5000 level entry up to the 1.5050 area. If that area is hit it will look very positive on all the chart programs, including one of my favorites which is point and figure charting.

      Other traders may wait for a pullback, but sometimes pullbacks don't occur when you're seeing a major breakout either to the upside or downside. When a pullback does not occur you're then left wondering what to do.

      Thanks for your feedback.
      Adam

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