25.10.202416:56 Forex-elemzések és áttekintések: GBP/USD: Simple Trading Tips for Beginner Traders on October 25th (U.S. Session)

Analysis of Trades and Trading Tips for the British Pound

The test of the 1.2978 price level occurred when the MACD indicator had risen significantly above the zero line, which limited the pair's upward potential, especially considering the lack of significant fundamental data. For this reason, I did not initiate a buy position on the pound. As you can see, a strong upward movement did not occur. Now, all attention is focused on the upcoming U.S. durable goods orders data and the University of Michigan's consumer sentiment index. An increase in these figures will limit the pound's growth. If the data aligns with forecasts, further upward correction of the pair towards the end of the week can be expected. Regarding the intraday strategy, I will focus more on implementing scenarios #1 and #2.

Buy Signal

Scenario #1: Today, I plan to buy the pound upon reaching the entry point around 1.2999 (green line on the chart) with a target of rising to the 1.3036 level (thicker green line on the chart). At the 1.3036 level, I plan to exit the purchases and open sell positions in the opposite direction, expecting a movement of 30 to 35 points in the opposite direction from this level. Anticipating a rise in the pound today is only feasible following weak US data releases. Important: Before initiating a buy position, ensure that the MACD indicator is above the zero line and beginning to rise from it.

Scenario #2: I also plan to buy the pound today if there are two consecutive tests of the 1.2976 price point when the MACD indicator is indicating oversold conditions. This would limit the pair's downward potential and trigger an upward reversal. A rise toward the target levels of 1.2999 and 1.3036 can be expected.

Sell Signal

Scenario #1: Today, I plan to sell the pound after a break below the 1.2976 level (red line on the chart), which will lead to a quick decline in the pair. The key target for sellers will be the 1.2949 level, where I plan to exit the sell positions and immediately initiate buy positions in the opposite direction, anticipating a correction of 20 to 25 points in the opposite direction from this level. Sellers are likely to become active if the data is strong. Important: Before selling, ensure that the MACD indicator is below the zero line and just starting to decline from it.

Scenario #2: I also plan to sell the pound today if there are two consecutive tests of the 1.2999 price point when the MACD indicator is in the overbought area. This would limit the pair's upward potential and lead to a market reversal downward. A decline toward the target levels of 1.2976 and 1.2949 can be expected.

Chart Legend:

• Thin Green Line – Entry level for buying the trading instrument.
• Thick Green Line – Suggested price to set a take profit or manually secure profits, as further growth above this level is unlikely.
• Thin Red Line – Entry level for selling the trading instrument.
• Thick Red Line – Suggested price to set a take profit or manually secure profits, as further decline below this level is unlikely.
• MACD Indicator: When entering the market, it is essential to consider overbought and oversold areas.

Important: Beginner forex traders should be very cautious when making market entry decisions. It is best to stay out of the market before the release of major fundamental reports to avoid sudden price fluctuations. If you choose to trade during news releases, always set stop orders to minimize losses. Without stop orders, there is a risk of quickly losing your entire capital, especially if you do not use money management and trade with large volumes.

And remember, it is essential to remember that successful trading requires a clear trading plan, such as the one presented above. Making spontaneous trading decisions based on the current market situation is inherently a losing strategy for an intraday trader.