Wednesday, 10 August 2016

Fib Matrix Forex Scalping Strategies | 2016-07-19 GBPUSD +8

GBPUSD +8 2016-07-19 | 1 min Preemptive

This is a 1 min preemptive reversal trade on cable. The move down was sharp as can be seen by the spread out nature of the GBPUSd Fib Matrix. However the move has bottomed out, and although the 1 min boxes have yet to cross there is support on the 1 min, 5 min and 60 min timeframes. The trade worked out nicely for +8 pips with price retracing to the white zone.

For more details about using forex price action to scalp using the Fib Matrix TimeLanes trading software, here

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from 24HR Forex Trade Room