A very successful day trading today, Took two trades, both buys on Cable and Eddie. Quite a few of the USD charts were interesting today.
12:40 - Trade 1 - GBP/USD (Cable) Buy @ 1.5766 - Closed @ 1.5805 = +39
Cable 1hr
Cable 20min
This was one of a few trades I could've taken at this time. For whatever reason, the volume dropped off on Cable. Eddie, Swissy and Loony all at the same time and any of these would have provided a viable trade, be it long or short. Looking back at it now there wasn't a great deal of volume on the hourly chart, but the bottom reversal followed by no supply seemed a good trade to take.
16:00 - Trade 2 - EUR/USD (Eddie) Buy @ 1.3189 - Closed @ 1.3221 = +32
Eddie 1hr
Eddie 20min
After the first trade of the day, the dollar seemed to strengthen for a while which produced some high volume on a down bar. Eddie was coming to the bottom of a trend so this provided a good place to buy. The high volume was followed by a no supply on the 20min chart and the order placed on the high of the bar.
That's all for today,
Cheers,
KFT
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