7/27 Analysis: Less Than 5 Minutes To Profit
Right at the London open today, we have 2 obvious strong currencies both the EUR (pink line) and the CHF (turquois line). On the weak side, we have the AUD (orange line).
Now, this is where having some market knowledge and not just relying on the indicator helps. Whenever I have a choice between pairing the AUD with either the EUR or the CHF, you have a much higher probability trade set up if you use the EUR.
- EUR/AUD BUY
If you used the breakout strategy I teach and put a pending stop order 10 pips above the open price, you would have hit your profit target of 20 pips in less than 5 minutes.
As you can see, the total move on this pair was over 100 pips. So, looking for the right pattern on the indicator along with some market knowledge puts the probability of a winning trade on your side.
You can 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.
Share this article
Learn to Trade from Top Traders
Join the CCT community and get FREE, unlimited access to all of our trading resources from top hedge fund managers and pro Forex traders around the world.Join Now