Intraday Market Thoughts

GBP Analog, Fractal Realized

by Ashraf Laidi
Oct 11, 2019 17:44

Saying there is a Brexit deal or no-deal is not helpful in these markets. Making the prediction that GBPUSD will rise, or will not fall below 1.18 is fine, but will not make you money. Committing funds to a tradable idea with price parameters is what this market is all about. 3 weeks ago, I identified the similarity of the pattern in GBPUSD price action in Sep 2019 to that in Sep 2018, suggesting a temporary pullback will emerge prior to an shar recovery. A repeated pattern is often called a fractal or analog (scale and duration does not have to be exact). This was issued as a long trade for the Premium susbcribers. Other factors such as GBP cycles and peaking USD peak also helped us take the trade. OUTCOME: GBPUSD's 3rd biggest weekly gain in over 10 years.

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GBP Analog, Fractal Realized - Premium Snapshot Cable Oct 11 2019 (Chart 1)


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