Due to this being the first week of the month you have to be cautious because sometimes the Forex pairings will channel before the non farm announcement on Thursday.
Thankfully no major channeling so far this week, the forex markets have continued to be liquid. Not sure if we have the Dubai continued speculation and issues to thank? But I am 99 pips up in two days.
I placed another two trades today, one at 7am the other around 8.05am. Both trades one of 30 pips and one of 17 pips struggled a bit at a couple of psychological levels then raced through for the pips!
(Cable trade)
(Cable second trade)
Ftse opened at 8 and the up swing in stocks also helped cable break through giving me another entry point above the pivot at 16483. The exit which is the most important part of a trade, was to get out before 16500.
To Your Trading Success!
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