Charts - Thursday 19th & Friday 20th March

by 17:06 0 comments
I'm very pleased to say that I managed to turn the week around during the last two days. Made back everything I lost and even came out with a small profit of 0.15% for the week. Considering on Tuesday evening I was down 3.75% i'm pretty happy with this outcome.

Two trades, a short yesterday which gained 2.33% and a long today which gained 1.69%.

On to the charts.

This was a quick smash and grab yesterday morning whilst it was a bit whippy. Shorted at the green signal as usual but I let it run a bit longer instead of closing out at the usual target. Glad I did as I bagged a good few pips and took a nice chunk out of the losses from Monday and Tuesday. I only need one good trade today to break even for the week.

Thursday's trade and subsequent move down formed the red zone at 1. The initial reaction was strength as it moved up and out of the zone before being capped by the FOMC zone high (green line at 1.07365.

I've marked bar 2 as it was the highest volume this morning when I took the trade. I took the first green signal as my entry. I considered this entry as a break out of the high of the red zone. It took a while to unfold but eventually got there after finding a bit of support just above the 50% of the blue zone. The second circled signal is also a viable trade but I was already in at this stage.

Happy to come out on top of a testing week.

Now i'm going for a beer!

Have a good weekend everyone.





28. Forex. Trading. Music. Beer. Food. Travel.


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