When a new trend line has established it is time for the forex coach in your head to start looking for an entry point. As a forex currency comes back to bounce off of the trend line again that is where you want to enter the trade.
AUS/USD 1HR 12/28/09
UPDATE: Enter the market at 9PM 12/29. Update; stopped out 1/12/10 305 pips profit.
 Forex Signal AbsorptionMake Possible Hyper Pips Dailyonly 12 Days Earned Up 17134 40 In Real Accou… (more) |
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EUR/JPY 5M
This is an example of a micro channel that I was fortunate to milk for 87 pips, entering around 9:30 PM. 12 2 09
My goal was to enter at the bottom of the channel going long with my stop just below the channel and multiple lots. The risk was only 8 pips per lot.
This will not work every time, but when it does the pay off can be big. This trade was up over 120 pips at one point while I was blithely sleeping
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