In this “Tips from a Trader” review, I will analyze the pound/dollar currency pair. Let me remind you that GBP/USD consists of two currencies – the British pound, which acts as a base, and the American dollar, which quotes this currency.
The GBP / USD quote shows the value of one British pound sterling expressed in US dollars, that is, how many dollars are needed to buy one pound.
Applying the volumetric analysis to the chart, I used “buy” and “sell” zones, determined two levels (from where I will enter a deal), made a deal, and fixed the profit.
Anyway, day trading requires solid analytical skills and strict discipline.