Most of the Forex pairs are proving a challenge to say the least. The markets are very uncertain and The skype trading group are having more losses than normal. Its the major uncertainty as to recovery or non recovery?
I did not wake up on time today, (Normally 5am) when I finally got the charts up and running cable looked to have moved a bit already. As already stated its currently channeling so I like the morning volatility of when it opens. It then dropped back to near the 50 level.
When its playing at 50 level I'm very weary as you know if you have read the blog previously. It quickly moved Back up after pull back on one red candle...That was my sign and I made some quick decisions to go in at 16270.00 due to the macd and histogram signs!
The other key indicator was the up trend and knowing there was a good chance it would go another 3 green candles. Taking into account I.Gs spread the entry was 16273.60 I then exited the trade at 16291.10 for a nice 17.5 pips. I trade the breakout on 5min candle so again the speed of the trade is obvious!
More detail this week on the other strategies....and as normal your comments or requests are very much appreciated.
To Your Success!
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