Technical Analysis

Pound futures (6B) form false break entry for bulls

  • Double bottom target has been hit.
  • False-break candle strategy entry spotted on daily chart.
  • Special announcement about new 1 on 1 sessions with Jay called trader mindset.

Short target hit from double top

On January 31st, we analyzed the double top formation on 6B and noted a possible short trade. The target for that trade has been hit with a profit of almost 300 points.

There is still potential for price to break below the double bottom’s neckline at $1.1862, but it looks unlikely, and there is a better long trade from here. Let’s look at it:

False break candle entry

There is a short video describing the false-break candle entry here.

The chart below shows a clear false break entry after yesterday’s close. This tells us that bears attempted to push prices below the most recent low but were unsuccessful in doing so. Price retraces and forms a wick, and the strong bullish close with a big-bodied green candle confirms the entry is a good one.

To trade this, we can take longs on any pullbacks we see on shorter time frames. Stops can be placed below $1.19.

6B daily chart showing false break candle strategy set up
6B daily chart

Announcement about trader mindset

Soon, we will be launching something called ‘trader mindset.’ It’s a series of 1 on 1 sessions traders can book to have with Jay.

In these sessions, we are going to focus 80% of our attention on mindset and 20% on the practical elements required in trading and markets. We are going to look at your schedule, personality, and trading philosophy to begin building a solid plan you can rely on. We will not cover trading strategies in these sessions nor technical patterns or setups. I am simply here to help you understand the best path forward toward achieving trading success. I am here to support you. We will be releasing a video soon with more details.

Topics we will discuss include:

  • Objective trading vs. subjective trading
  • Developing an actual plan and something that you can trust
  • ‘Importance’ as a major factor in why failure arises and how to release it
  • The ego and its role in trading decisions
  • How you can make trading easy
  • How to make the choice that successful trading is what you actually want
  • Vital exercises to improve your trading ability and decision making
  • Why your expectations on the outcome are the reason things don’t work out
  • All major athletes need coaches. Trading is no different
  • How to think in probabilities

If this is something that interests you and would like to be added to the list for a free session once rolled out, please add me on discord here Jay-OUP#6138, or send me an email at