Nothing works 100% of the time, some things happen regularly enough to take note of. These are some of those thoughts on trading gbpusd.
1)GU likes 50% fib's
2)GU likes the 25/75 psych levels
3)The first 15 minutes in Frankfurt trading (European open, Frankies hour or FH) is often a fake out and we rarely trade then.
4)A typical range for FH is 40 pips, upper range 60.
5)Bank your pips in FH.
6)We do not trade a 2nd move in same direction in FH, especially if the range is close to complete and we 30 mins in that hour.
7)Frankie often has a half hour reversal. Some traders I like think the FH move is often just a fake out move for the London session. Some call it the London open head fake.
8)Stop sweeps. If price is falling and goes below 15, it can often fall below the even number to 85. The opposite is also true if price is rising through 85 area it can often go above the round number to 15.
9)We like to trade London session until price has moved around 125 pips.
10)UK News events generally move GU in 1 direction (US news events can be much more volatile).
Just wanted to clarify item 10. I meant UK news events generally more GU in one direction, as opposed to the US news events which can be much more volatile.
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