GBPUSD: Weekly/Daily Analysis with LuBot
Good morning traders,
today I want to share with you a simple analysis on the GBPUSD pair using the LuBot indicator that I created based on my trading method and which automatically shows much of what I need to analyze the charts.
My trading method is mainly based on a Weekly/Daily analysis and I rarely go into 4H. I prefer to maintain high timeframes so as to avoid spending too much time in front of the charts and have all the time necessary to set up and manage the various trades.
In this example I show you how simple my way of trading is thanks to this indicator.
Let's start below with the screen of the weekly graph
as we can see, in recent weeks the price has broken the key level that acted as resistance and did not cause prices to rise.
Observing the price action, the break occurs after a return to the main moving averages that act as support, and finally the short-term structure returns positive (green candles). Further back we see the LONG signal with a green background indicating that from that moment the trend is bullish, we take this as a further favorable point.
At this point we have a clear idea of the structure and trend on the broader chart, so I go down to the operating timeframe, in my case on the Daily, which you can see in the main image of this post.
As you can see, it is very simple to identify the trend to follow, as we find a LongTrend signal that motivates us to follow the bullish direction, in favor of the weekly analysis we have done. The main moving averages have had a movement leading to a bullish configuration and the price, after having retraced on them, which acted as support, returns to the short Bullish structure (first green candle which could already be used as an entry trigger ). At this point LuBot shows us a LONG trigger that fits our idea perfectly.
The market makes its move and now after reaching a peak, it is retracing. We could expect a move up to the highlighted green area which would maintain the idea of structure and bullish trend, into which we could make a second entry if the conditions arise. Obviously we must not anticipate anything, otherwise we could find ourselves in a situation where, by entering Long in the green area without a trigger, the price could continue to fall and make a larger retracement with the risk of hitting the stop.
You must always stay calm and enter the market only if favorable conditions arise. Stops are always part of the game, but our job is still to try to limit the risks as much as possible.
That's all for this analysis.
👍 Did you enjoy this sharing? If you also agree with my view, give it a like
🙋♂️ Remember to follow me so you don't miss my future analyses.
🔑 If you want to get access to my indicators find the link below, you can also get access to all my indicators for free without paying anything
TAGS:
GBPUSD GBPUSD GBPUSD GBPUSD GBPUSD GBPUSD GBPUSD GBPUSD
today I want to share with you a simple analysis on the GBPUSD pair using the LuBot indicator that I created based on my trading method and which automatically shows much of what I need to analyze the charts.
My trading method is mainly based on a Weekly/Daily analysis and I rarely go into 4H. I prefer to maintain high timeframes so as to avoid spending too much time in front of the charts and have all the time necessary to set up and manage the various trades.
In this example I show you how simple my way of trading is thanks to this indicator.
Let's start below with the screen of the weekly graph
as we can see, in recent weeks the price has broken the key level that acted as resistance and did not cause prices to rise.
Observing the price action, the break occurs after a return to the main moving averages that act as support, and finally the short-term structure returns positive (green candles). Further back we see the LONG signal with a green background indicating that from that moment the trend is bullish, we take this as a further favorable point.
At this point we have a clear idea of the structure and trend on the broader chart, so I go down to the operating timeframe, in my case on the Daily, which you can see in the main image of this post.
As you can see, it is very simple to identify the trend to follow, as we find a LongTrend signal that motivates us to follow the bullish direction, in favor of the weekly analysis we have done. The main moving averages have had a movement leading to a bullish configuration and the price, after having retraced on them, which acted as support, returns to the short Bullish structure (first green candle which could already be used as an entry trigger ). At this point LuBot shows us a LONG trigger that fits our idea perfectly.
The market makes its move and now after reaching a peak, it is retracing. We could expect a move up to the highlighted green area which would maintain the idea of structure and bullish trend, into which we could make a second entry if the conditions arise. Obviously we must not anticipate anything, otherwise we could find ourselves in a situation where, by entering Long in the green area without a trigger, the price could continue to fall and make a larger retracement with the risk of hitting the stop.
You must always stay calm and enter the market only if favorable conditions arise. Stops are always part of the game, but our job is still to try to limit the risks as much as possible.
That's all for this analysis.
👍 Did you enjoy this sharing? If you also agree with my view, give it a like
🙋♂️ Remember to follow me so you don't miss my future analyses.
🔑 If you want to get access to my indicators find the link below, you can also get access to all my indicators for free without paying anything
TAGS:
GBPUSD GBPUSD GBPUSD GBPUSD GBPUSD GBPUSD GBPUSD GBPUSD 
LuTrader Garage : linktr.ee/LuTraderGarage
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