We are trading the Great British Pound vs the US Dollar.
The Brits, of which I am one, get up in the morning see that America is still asleep and go, "Hey, those guys have weakened our bloody pound while we were sleeping" they then buy loads of Dollars with Fish and Chips and blow raspberries in the direction of America which totally infuriates the Americans.
I can understand this.
Sorry, I kind of lost it there, thinking of those glorious Fish n Chips which I haven't had in years because I live in Japan and eat bloody Octopus brains for breakfast.
Seriously though.
The London market opens and money flows into the market pushing the price up or down.
It is interesting to see and obvious from these charts that Japanese have No interest in Fish n Chips whatsoever, and will continue to eat Octopus brains for breakfast. Not true really, I exaggerated, they are crab brains.
Anyway, the blue box is the Tokyo session and we can see that not much action has taken place on the GBP/USD to convince it to move much in one direction or the other.
London opens and within the first 3 hours of it opening, price breaks out.
This happens almost everyday, not always in the same direction or degree but things MOVE fast. You have to be careful about the London open though as false signals or Whipsaw moves can blow you Stop Loss points.
So, if you consider these simply points while practicing, you will pick it up in no time.
Right, I am off to make some Fish n Chips!
The Brits, of which I am one, get up in the morning see that America is still asleep and go, "Hey, those guys have weakened our bloody pound while we were sleeping" they then buy loads of Dollars with Fish and Chips and blow raspberries in the direction of America which totally infuriates the Americans.
I can understand this.
Sorry, I kind of lost it there, thinking of those glorious Fish n Chips which I haven't had in years because I live in Japan and eat bloody Octopus brains for breakfast.
Seriously though.
The London market opens and money flows into the market pushing the price up or down.
It is interesting to see and obvious from these charts that Japanese have No interest in Fish n Chips whatsoever, and will continue to eat Octopus brains for breakfast. Not true really, I exaggerated, they are crab brains.
Anyway, the blue box is the Tokyo session and we can see that not much action has taken place on the GBP/USD to convince it to move much in one direction or the other.
London opens and within the first 3 hours of it opening, price breaks out.
This happens almost everyday, not always in the same direction or degree but things MOVE fast. You have to be careful about the London open though as false signals or Whipsaw moves can blow you Stop Loss points.
So, if you consider these simply points while practicing, you will pick it up in no time.
Right, I am off to make some Fish n Chips!
Starting to see instead of just looking.