Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
GBPUSD – Dynamic Support Continues to Hold
Quietly under the radar while daily ranges continue to contract in the Cable, the GBPUSD has been mounting an impressive run, albeit at a tortuga pace. Part of the reason it has been deceptive is because intraday volatility levels have shrunk in half since the start of the year as the Sterling is now reaching its lowest ATR levels in over 3+ years.
But regardless, the pair has posted an impressive 9 bull closes out of the last 11 days. This consistent buying while intraday ranges have shrunk suggest either timidity on the part of the bulls, or a quiet accumulation as the ATR (5 periods) has actually been falling when the bull …... Keep reading