Forex Trading Money Making | GBP/USD Forex pair | Trading signals #13

Welcome back, traders and true believers of Forex Trading.

Welcome to the McDuck trading family.

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

Today our Forex pair of choice is going to be the Great British Pound / United States Dollar, which I consider to be one of the most profitable pairs to trade!

IQ Option is going to be our trading platform of choice, it is reliable, has a slick design and gets my vote overall. I highly suggest that you give it a try if you aren't using it already.

We are going to start off with the Technical analysis and see in which direction are we going to take our trade.

If we take a good look at the summary, we can see that at the moment we are in a perfect position to enter the trade from the buying position. The summary is heavily pointing us in the buying position, and even though the Oscillators are kinda tied at the moment, however, the Moving Averages are without a doubt showing us that a buying position is surely to right call to make.

We are going to go ahead and get a signal from the Tools Trades website, and hopefully, it will confirm what we know so far.

Even though we are almost certain that we are going to enter the trade from the buying position, I consider it to be a wise decision to get information from multiple sources.

The signal we generated from Tools Trades confirmed that a buying position is a right decision for this trade. As such we are going to be able to enter the trade with confidence and hopefully, make some profit.

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 it is time to check out the Forex Factory Economic calendar as a part of our Fundamental analysis.

Open up the Forex Factory Economic calendar and let's set it up so that it only shows relevant news.

We only need the information associated with the Euro / Great British Pound and as such everything else would be redundant.

As you can see, we only have events that are linked to the United States Dollar, that isn't going to be a problem, so let's take a look at the most important events:

1. Unemployment Rate (USD)

2. Average Hourly Earnings m/m (USD)

3. Non-Farm Employment Change (USD)

Unemployment Rate (USD) - This report shows us the percentage of the total workforce that is unemployed and actively seeking employment during the previous month. The number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labour-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy;

Average Hourly Earnings m/m (USD) - This one shows us the change in the price businesses pay for labour, excluding the farming industry. This is the earliest data related to labour inflation, it's a leading indicator of consumer inflation - when businesses pay more for the labour the higher costs are usually passed on to the consumer

Non-Farm Employment Change (USD) - From this one, we can see the change in the number of employed people during the previous month, excluding the farming industry. This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts;

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

You can see that we entered the trade at the perfect moment, right before a bullish trend has formed. Even though some resistance was present, a continual bullish trend was ongoing, and that, in turn, allowed us to make a huge amount of money!

Thanks to the effort we put into our research and the trading signal from Tools Trades we were able to break all of our records and make 9.181.19$! This is a good testament to the constant improvement of the Tools Trades AI system, hopefully, this goes on and we continue to make a profit.

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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