Forex Price Action | GBPUSD +10 pips 2016-04-22

GBPUSD +10 pips 2016-04-22 | 5 min Trend Trade

This a classic 5 min trend trade. Price has broken out long making a new session high before retracing back to the 5 min boxes. There is further clusters of support on the 1 min and 15 min time frames with a nice 10 pip back to the 1 minute boxes. There are additional defensive support levels with the 1 min S7 at 79 and the 5 min S3 and 15 min box at 73 and 72. The nice stepped nature of the 1, 5 and 15 minute boxes with good gaps between each indicate that this is a strong upward trend and indeed, it provided an easy +10 pips

A lot more information about trading forex price action, with the forex TimeLanes trading software, can be found here

Previous recording Forex Price Action | EURUSD +8 pips 2016-04-21

Forex Price Action | GBPUSD +10 pips 2016-04-22 was originally published on 24HR Forex Trade Room

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s