Drawn on the chart we have a key monthly support and resistance level ( been used as resistance in this chart ) On the monthly chart this level has been respected and touched the past 4 months... Get the chart up yourself and check you lazy bas#a'rds haha, You can also see this key monthly level has been respected on this chart ( 4H )
Now you can see why it is so important to check other timeframes once you have drawn these key levels on, Because the more timeframes your levels are respected on then the stronger setup it is!
Simplicity really is key to success in trading, all these so called gurus put charts out there that look like they blew up a paint factory, this is because they want to confuse people and make them think you have to be clever ( I'm living proof this isn't true haha ) and put 20 years practise in before you start seeing returns, And also if people believe this bull#h't they are more likely to buy there services when really it is probably just some lad from a shitty council estate who lives in his mums basement and hasn't got a clue about trading and the only support line he knows is the addicted to wa#nk'ng support line his mother makes him call once a week.
Watch out Brexit could be delayed to 2021. Even if this news is speculative, it could lead to a pulse north on GBP pairs.
ApexFX_Pro
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@Captain_Walker, Brexit could get delayed forever if that’s what the government want, the people really don’t have a choice
Captain_Walker
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@Apex_Managed_Capital, I ain't bovverred! I'm a trader.. politicians can do what they want. Innit. I don't debate politics.. my comment was relevant only to probabilities in trading. No predictions - as usual.
Loving the low down on it, Ha!....Seems a feasible approach, managed to catch a nice intraday push down the other day before that retrace up. Nice breakdown, and supporting evidence and real talk from what it sounds like, thank you.
ApexFX_Pro
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@GL_R93, Thanks :) we just try and keep it as simple as possible and explain it in ways people will understand 👌
Appreciate your kind words.
GL_R93
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@Apex_Managed_Capital, No worries :)
blackbayinvestments
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this might work..., as it is overbought on rsi, but I don't this think resistance level is strong enough, its not a major resistance level so will most likely break through
ApexFX_Pro
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@blackbayinvestments, it’s not a bad level on the monthly chart to be honest, but we will be keeping a close eye on it :)