6/9 Analysis: London Open Breakout
Typically right before a session starts we have to be patient and wait for market conditions to turn in our favor. Today, this is how the indicator looked right before London opened. You can see the USD (blue line) was already strong and getting stronger with a steep line up and the EUR (pink line) was already weak and getting weaker with a steep line down.
- EUR/USD SELL
So right when London opens, we get our breakout to the downside for 40 pips.
If we fast forward about 15 minutes into the session, here is what the indicator looks like:
Another trade opportunity has developed as the JPY (yellow line) is strong with a steep line up and the GBP (red line) is weak with a steep line down.
- GBP/JPY SELL
You can see from the point of entry, this was a 117 pip move and it would have never gone against you the entire way.
This is information that the majority of amateur traders simply do not see and therefore you are trading with a huge advantage.
Watch the entire video analysis below:
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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