Tuesday, 19 April 2016

Forex Price Action | GBPUSD 7 pips 2016-04-07

GBPUSD +7 pips 2016-04-07 | Preemptive Reversal

This cable trade was an aggressive preemptive reversal trade on the 1 min tim frame off the S3. The rationale behind the trade is that after a move down the S1 has crossed back over the S2 and S3 and that the momentum has turned around. There is risk in this trade as we are relying entirely on the 1 min time frame, Initially, the trade went against Kash, but a careful add lower down saw him able to recover at -2 +9 (net +7)

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from 24HR Forex Trade Room http://24hrforextraderoom.com/forex-price-action-gbpusd-7-pips-2016-04-07/