7/14 Analysis: 3 Profitable Trades at NY Open
At the NY open, we have a strong CAD (green line) but it’s currently turning down and a weak AUD (orange line) that is currently turning up. Therefore, we don’t have favorable conditions for a trade at this point in time.
Perhaps you could place a pending stop order 10 pips below the market and see if it will be triggered.
If we fast forward a few seconds into the market, we will see another pattern emerging on the indicator:
Now we have a strong NZD (purple line) with a steep line up indicating current momentum along with the USD and GBP on the weak side with steep lines down.
- GBP/NZD SELL
From the time we see this momentum on the indicator just seconds into the NY session, the move was 129 pips down.
When you watch the entire video analysis, I will show you 2 more profitable trades during today’s NY session:
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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