Tuesday, August 24, 2010

GU Trade example

5 min chart, volume is falling off on the move up to 25 psych level. In the big picture we're still on a lh, however we are running above the last 5 min lh with a few pips. Frankie's half hour reversal time.*

We took the trade reasons being: FH reversal, low vol move up against the trend, psych level break failed, supp/res level obvious, a 2b possible set up on the last high 8 candles earlier (5 min chart). Entry from 7RB chart.

Exit when break below RN hesitated and my auto +20 bank indi (Mrs V) was going crazy, +23.

*Half way through the Franfurt open initial hours trading can often have a direction reversal.


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