Forex Trading Money Making | GBP/USD Forex pair | Power signal #1

Welcome back, traders and true believers of Forex Trading.

Welcome to the McDuck trading family.

In our previous post, we traded the United States Dollar / Canadian Dollar Forex pair with a Tools Trades signal, if you missed it, make sure to check it out!

Today we have a special trade, as I have managed to obtain a Power trading signal from Tools Trades! We talked about them in our Tools Trades In-depth review video, so make sure you check it out if you missed it.

Today our Forex pair of choice is going to be the Great British Pound / United States Dollar, which is one of the most popular pairs in the trading community.

IQ Option is still our go-to trading platform, I highly recommend them to everyone and especially to novice traders.

I have received a notification from the Tools Trades that a Power signal is available and I rushed to their website in order to see what it is. As you already know, the Power signals from Tools Trades tend to be very profitable in general and as they are not available on-demand it can be tough to get your hands on them if you are not a regular trader.

The Power signal that was generated by the Tools Trades AI system told us that a great opportunity to trade the Great British Pound / United States Dollar has appeared.

It provided us with the essential information needed to enter a trade, such as Take Profit, Stop Loss and the trade position we are to take.

As you can see in the image above, the trading signal is telling us that a buying position is ideal for this trade.

Let's move on to the Technical analysis and see for ourselves if this is a good idea.

At the moment we are looking at a very strong buying position. Oscillators are pointing us in the buying position, whereas the Moving Averages are telling us that a buying position would have the most profitable outcome.

We can be very confident that a buying position is a right call, however we are going to take a look at the Economic calendar and see what it has to offer.

Don't forget to use the promo code #SHIVINVEST when you sign up for a Tools Trades account in order to receive additional free trading signals.

Now we are going to open up the Forex Factory Economic calendar as a part of our Fundamental analysis.

Make sure you set it up so that it only shows relevant news for our Forex trading pair.

There are many economic events today that are going to influence our Forex pair but we are going to turn our attention to these:

1. Consumer Inflation Expectations (GBP)

2. Federal Budget Balance (USD)

3. Core CPI m/m (USD)

Consumer Inflation Expectations (GBP) - A report from the Bank of England, it is about the expectations of future inflation that can manifest into real inflation. It is derived via the survey of about 2,000 consumers, conducted by Kantar TNS, which asks respondents where they expect prices to be 12 months in the future;

Federal Budget Balance (USD) - Another monthly report from the US Department of the Treasury, this one tells us the difference in value between the federal government's income and spending during the previous month;

Core CPI m/m (USD) - This report is released by Bureau of Labor Statistics, it is a monthly released report as well, this one shows us the change in the price of goods and services purchased by consumers, excluding food and energy. As consumer prices account for a majority of overall inflation, this is a very important report to look out for.

Let's see if we can extract some more information from the chart below.

The market was showing a certain resistance pattern before a bullish trend started to emerge. Getting into the trade at the moment the trend emerged would mean that we would make a huge amount of money.

This proved to be true and thanks to the Power signal from Tools Trades we were able to set our new all time record and make 6.649.18$!

That is everything for today, feel free to check out the video below on this topic, stay safe and I will see you soon with more tips and tricks, trading signals and guidelines for Forex trading!

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