Hello all!
I haven't been able to trade much due to some time constrains, however I managed to take an interesting trade on GBP/USD.
The explanation:
- After London Close with no news, low liquidity.
- Price already started to show signs of ranging prior to london close.
- EMA 200 started to act as resistance at half level, even after the previous bear move.
- I've entered with a sell order at the natural Half Level 140.500
- Even though Dragon inclination was supporting a bull move, candles with notable volume didn't follow through (this was the sign that kept me holding the trade).
- 45 mins later was price made it lower and I grabbed 10 pips as I this was a sideways movement trade, not a FIFO.
All the best and keep your pants green my friends!
I haven't been able to trade much due to some time constrains, however I managed to take an interesting trade on GBP/USD.
The explanation:
- After London Close with no news, low liquidity.
- Price already started to show signs of ranging prior to london close.
- EMA 200 started to act as resistance at half level, even after the previous bear move.
- I've entered with a sell order at the natural Half Level 140.500
- Even though Dragon inclination was supporting a bull move, candles with notable volume didn't follow through (this was the sign that kept me holding the trade).
- 45 mins later was price made it lower and I grabbed 10 pips as I this was a sideways movement trade, not a FIFO.
All the best and keep your pants green my friends!