June 25, 2015Daily Analysis

6/25 Analysis: 2 trades, 1 trigger

At the London open, the GBP is the strongest currency but we aren’t seeing a steep line to the far right indicating there is no current momentum in the market to the upside.

The NZD and CHF are weak but again there are no steep lines to the far right indicating there is no current momentum in the market to the downside on these currencies.

What you can do then is place a pending order 10 pips above or below the current price and wait for the market move. If your order is triggered, then you have entered going in the direction of the current trend and if not, then you walk away with nothing risked as the market reverses away from your pending order.

  • GBP/NZD BUY
  • GBP/CHF BUY

So if we had pending buy orders on these 2 pairs, the GBP/CHF would not have been triggered since the CHF reversed. The GBP/NZD would have been triggered as the GBP continued getting stronger and the NZD continued getting weaker.  This again is why it’s so important to be analyzing individual currencies and NOT pairs.

062515 London Trade1Result

If you would have placed your order 10 pips above the open price, it would have been triggered in the direction of the trend and momentum for a 33 pip move.

Watch the video analysis here:

You can see that our Currency Strength Indicator is an effective tool for picking out the highest probability, lowest risk trade set ups while avoiding market conditions that aren’t favorable. If you keep using this tool every day along with our daily Forex analysis, you will increase your win rate and be on your way to becoming a profitable trader long term.

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James Edward
James Edward has been a successful Forex hedge fund manager & educator for over a decade. He founded Complete Currency Trader, a London based firm that has consistently trained individuals to become professional and profitable traders long term using the individual currency strength analysis methodology. CCT is an elite Forex educational firm and has a reputation second to none with over 90 positive reviews and an overall 4.538 out of 5 rating on the third party verification site Forex Peace Army. James’s affable personality, expert knowledge, notoriety for getting results, and steadfast dedication to his clients, has secured his position as one of the most trustworthy, liked, and in demand authorities in the industry.