GBPUSD +8 pips 2016-05-12 | Orange to White and Over Under
In this trade cable has moved sharply higher in a rapid move bursting through “big figure”. You can see that on the 1, 5 and 15min time frames the deeper shades of orange suggest that cable is overbought. Although overbought, shorting in these conditions can be dangerous, catching a falling (rising in this case, knife. However here Cable is shorted at the 1 min level and gives a net +8 pips
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Previous recording Forex Price Action | GBPUSD +9 pips 2016-05-06
from 24HR Forex Trade Room http://24hrforextraderoom.com/forex-price-action-2016-05-12-gbpusd-8/
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