Welcome to our GBPUSD AI Prediction and today is the 4th of November 2024. We at Bro In Finance are here to guide our followers to success with top to bottom analysing using Machine Learning technology. Bear in mind that these predictions are generated and given to you for absolutely free at no extra cost.
So first lets analyse the GBPUSD chart,
So just like last week, we are still continuing moving forward with the same two zones that we marked and was valid for the past week. And as you can see, there was a break in price in the exact moment the new week started and from there the price reached the supply zone and came down to the demand zone that we have marked. Lets look at what our model predicts.
AI Prediction
The value generated for us by Bro In Finance’s model today is 1.29353. Our model analyse historical data, historical trends, market data and price movements to provide a better prediction with higher accuracy.
The model suggests a Sell trade. The mean value is way below the demand zone. This means that the momentum will break causing the price to create new zones because if the price do reach the mean then the current demand zone will not be able to withstand as a support like it did before. Lets quickly move to our trade setup.
Trade Setup
- Type – Sell
- Entry – 1.29933
- Take Profit – 1.29522
- Stop Loss – 1.30283
This Sell trading setup aims to get in the trade at 1.29933 and exit at 1.29522 as TP with 41.1 pips and 1.30283 as SL with 35.0 pips, while having a 1:1.17 risk to ratio. Only enter the trade if the entry do hit the expected price or else skip.
Important
- This trading setup is only valid for 4th of October 2024. And it is advised to close the trade by the end of the day is either the Take Profit or the Stop Loss is not hit.
- Its always better to have the 15 mins chart and the 1 hr charts opened to get insights due to its clarity on how the price actually move. While the 15 mins chart shows you the changes in a shorter period, the 1 hr chart captures the overal movement. We do not recommend trading on anything less than 15 mins chart because it can sway you in your judgements with sudden price movements. And same thing goes to anything larger than 1 hr chart because we are aiming to hit day trades.
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Disclaimer: Forex trading carries significant risk and may not be suitable for all investors. This analysis, based on Bro In Finance’s proprietary data, is provided for informational purposes and should not be considered investment advice.
