7/6 Analysis: Profits 10 Minutes After Entry
If we do our initial analysis, you can see the AUD (orange line) is the strongest currency and starting to turn back up again. The GBP (red line) is weak and getting weaker down below.
These 2 currencies are diverging away from each other.
I would place a pending stop order 10 pips below the current price so that if the trend continues down, our order will be triggered with momentum on our side.
- GBP/AUD SELL
If you were to place your order 10 pips below the opening price on this pair, it would have triggered and went down 25 pips in about 10 minutes. This is the advantage of setting pending orders once you identify the two currencies to pair because it often gives you perfect timing on a highly profitable and low risk trade.
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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