Monday, 11 April 2016

GBP/USD# 1 min Trend Trade +6 pips [2016-03-24]

GBP/USD 1 min Trend Trade +6 pips [2016-03-24]

This is an interesting trade that comes from experience of understanding where in the the price cycle a pair currently is. Here, GBP/USD has fallen very sharply and quickly (this can be seen bu the huge distance between the 1min and 5 min boxes. Price has retraced but the chances of it retracing all the way back to the 5 min boxes on this retracement are low. Here, price has move back and is 15 pips from the 1 min boxes and at a 1 min resistance. The trade has a higher risk than usual but the probability of another move down is high.

How to use the TimeLanes to trade forex price action.

from 24HR Forex Trade Room