High %age trade set up on the short term GBPUSD Profile
Coming into NFP (even if it is likely to be a rogue number) there will be a tendency to square up, which means gravitating back to the short term POC.
In the GBPUSD that's around 1.3140. Buy 1.3115
Helping it is the fact we have just completed an 80/20 traverse of the value area - also suggesting a move back to the POC. Stop below 1.3110
In the GBPUSD that's around 1.3140. Buy 1.3115
Helping it is the fact we have just completed an 80/20 traverse of the value area - also suggesting a move back to the POC. Stop below 1.3110
Trade closed: stop reached:
Even high percentage trades can fail. Stopped out @ 1.3104
Capital can always be turned into income. It is not so easy to turn income into capital.