Live Forex Trading Room Trades [Week Eleven 2016]
The TimeLanes provide numerous different trading strategies and a wealth of trading opportunities. In this selection of trades we look at we have chosen a variety of different set ups and explained the reasoning behind each trade that was taken. If you learn to understand the way that often price cycles through a variety of stages trading opportunities become much more apparent. The dynamic nature of the TimeLanes shows the various stages of the price cycle in the patterns that are formed on the grids making recognising the stage at which price is at easier.
GBPUSD +6 pips [2016-03-15]
GBPUSD +7 pips 60 min Bounce Trade
GBPUSD move down to its 60 min box which is around 14 pips from the 1 minute boxes. The R1 & 2 boxes on the 1min are crossing indicating a change in short term momentum. The boxes on the 1 min time frames are indications of stronger support or resistance and if the 1 min boxes are 15 or more pips away increasing the probability of price stalling and or retracing at the level.
EURAUD +7 pips [2016-03-15]
EURAUD +7 pips 1 min Pre-emptive Reversal
EURAUD is in a Pre-emptive reversal pattern on the 1 min time frame with the S1 and S2 crossing over and price retesting the R3. This type of trade happens after a swift move up meets substantial resistance. The trade is taken when the S1 and S2 boxes have crossed and when shorting and are below the R3
GBPUSD +8 pips [2016-03-17]
GBPUSD +8 pips 5 min Reversal Trade
GBPUSD is in a reversal pattern as it looks to retest its lows. With the 1 min boxes over 20 pips away this gives an opportunity to go long at the 5min box with supporting 1 min level. This produced +6 half and +10 on balance giving +8 average
GBPUSD +8 pips [2016-03-18]
GBPUSD +8 pips Orange To White
In this Orange to White trade GBPUSD has dropped sharply down to a 1 min level. Although the supporting level on the 1 min is 20 pips away from 1 min boxes it has an increased risk as there are no supporting levels on the other time frames thus the trade was taken with reduced risk.
The above trades represent some of the live Forex trading room trades for Week Ten of 2016. Various forex TimeLanes set ups are covered and we try to mix up the trades as much as possible to show you different types of trades and set ups taken.