EURGBP Forex cross pair has reached a strong monthly demand imbalance where going long is allowed again. As swing traders and longer term traders we should not be thinking of going shorts on EURGBP Forex cross pair.
Price action analysis is telling us there is a very strong monthly bullish impulse that ended up becoming a monthly demand imbalance around 0.8607. This imbalance has gained control and renders lower timeframe shorts low probability.
Price action analysis and supply and demand technical analysis is telling us that going long on EURGBP Forex cross pair is the way to go now, no matter what Brexit news or any other fundamentals are telling us to do. Learning how to trade Forex should not be as difficult as it seems, it will if you start paying attention to news releases and fundamentals as well as what media and web sites are talking about online.
Planning your Forex trades based on supply and demand imbalances will place you on the right side of the equation more often than not. There are many Forex trading strategies, stick to one and master it.
This is the kind of price action technical analysis you will learn in our trading community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.
Trading supply and demand imbalances is ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and reacts strongly to those imbalances. Why is it that you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.
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