Sunday, 12 June 2016

Forex Scalping Strategy | 2016-05-25 GBPUSD +8

GBPUSD +8 2016-05-25 | Orange To White

This is an extended orange to white trade. It is extended in as much as the move has been sharp and quick, so much so that the boxes on any timeframe have not yet appeared. The trade is taken off the five minute level as this is the first point at which the momentum has stalled. Note the deep orange shade above indicating that on the 1 and 5 min time frames cable is overbought. The trade worked out to produce +8 pips.

More information and further help regarding scalping using forex price action, with the forex Fib Matrix trading software, can be found here

Previous recording Forex Price Action | 2016-05-24 GBPUSD +10

from 24HR Forex Trade Room