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Technical Analysis
Daily Market Analysis by HotForex
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[QUOTE="HotForex, post: 102016, member: 33561"] GBPAUD: A buy area touch and a move to T1 [IMG]https://analysis.hotforex.com/wp-content/uploads/2016/05/Chart_16-05-12_10-37-09.png[/IMG] [B]GBPAUD, 60 min[/B] Yesterday while the pair was still trading at 1.9634 [URL deleted]I wrote that there was support at 1.9520 – 1.9560 and that this area coincides with 4h Bollinger Bands and 30 period SMA. Therefore, I said, I was looking for long entry signals inside this buy area with Target 1 at 1.9694 – 1.9740 and Target 2 at 1.9795 – 1.9820. Yesterday GBPAUD moved to my Buy Area during the US session, provided us with buy signals just like the ones I’ve been talking about in the Live Analysis Webinars. When combined with professional risk management procedures this provided another low risk trading setup that HotForex traders are now quite accustomed to. Market then moved to my Target 1 one at 1.9694 – 1.9740 and those that decided to take profits at the lower end of this range made over 100 pips. Target 2 is at 1.9795 – 1.9820. People ask me if I’m able to help them to make money in FX markets. The above analysis is an example of how we at HotForex Research can help our clients. However, this is not an isolated case. Recent EURJPY, Crude Oil and EURUSD analyses by me and the AUDUSD & GBPJPY analyses by my colleague Stuart analyses were all very successful. Sometimes we of course get it wrong as well but that is why we teach clients to follow strict risk management rules. All in all our analyses provide HotForex clients with logical entry levels and reasonable targets. To fully understand how to use the analysis, you need to join our free educational and interactive webinars. To become a good trader requires learning, patience and work mixed with a lot of discipline. If you are ready for that, open an account with HotForex and attend our webinars to start learning how to become an independent and successful trader! We look forward to seeing You there! [/QUOTE]
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