British Pound Price Action Biases At Weekly Extremes

By Lawrence

If you have not read the article on Euro Dollar Price Action Biases At Weekly Extremes please do so as I will not go over the basics here again.

Swing Bias In Terms of Previous Week Range

Although similar to euro dollar, pound demonstrates subtle difference from euro in this set of statistics.

pound_weekly_stopd_bias_1

From Table 1, it is very clear the breakout method based on 20% breach of previous week high still works reasonably well but it is way weaker in comparison to euro. What it means is that although the weekly STOPD price level bias to reach 50% expansion is still there, it is not where the money is.

In Table 2, it is showing very stable downside bias just like euro.

Daytrading Bias In Terms of Pips

The very good stuff is here in the pip based bias like euro.

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Comments
  • MidKnight December 12, 2012 at 7:28 pm

    “Will post more mechanical trading setups on cable when I get the chance to organize (more like extract) the information from my systems.”

    If you are stuck on what to give premium members for Christmas – this would be lovely! 😀

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