It was great to see everyone at this month’s Traders Surgery and to welcome more new members. The surgery kicked off with a discussion on Sins and Wins from the previous month and looking at how we can all improve our win/loss ratios. [Read more…]
Last week in Part 4, we looked at candlestick charts. This week, we look at one of the oldest charting methods popularised in the West: Point and Figure charts. To some, Point and Figure charts look like a glorified game of noughts and crosses! To others they simply make no sense or serve no purpose. Unfortunately, the interest in Point and Figure charts is on the wane, which is a shame because if you dug a little deeper, they can be a highly effective charting approach that you could use for your trading and investing. They can offer flexibility and a different perspective on price action. [Read more…]
GBP putting in some strength over March / April – could this be signs of things to come? Really needs to break out of the 1.20 / 1.29 range and hold above current levels if it is going to push any higher. There’s enough fundamental events in 2017 to give it that kick it needs though.
Possible upside targets in the shorter/medium term: 1.37 then 1.44 and if it can nudge any higher may find resistance at the 1.48 zone. A rejection at the top of the current range where its now trading will obviously have 1.20 as its base but in between that 1.255, then 1.237 could be possible targets?
