Tuesday, 3 May 2016

Forex Price Action | GBPUSD +10 pips 2016-04-22

GBPUSD +10 pips 2016-04-22 | 5 min Trend Trade

This a classic 5 min trend trade. Price has broken out long making a new session high before retracing back to the 5 min boxes. There is further clusters of support on the 1 min and 15 min time frames with a nice 10 pip back to the 1 minute boxes. There are additional defensive support levels with the 1 min S7 at 79 and the 5 min S3 and 15 min box at 73 and 72. The nice stepped nature of the 1, 5 and 15 minute boxes with good gaps between each indicate that this is a strong upward trend and indeed, it provided an easy +10 pips

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Previous recording Forex Price Action | EURUSD +8 pips 2016-04-21

from 24HR Forex Trade Room http://24hrforextraderoom.com/forex-price-action-gbpusd-10-pips-2016-04-22/