Hello Traders, I hope your week has been awesome? Well, mine was just there. In today’s lesson, you will be learning great trading tips from my trades this week…Enjoy!!!
This week, well the markets have been ranging on EurUsd, UsdChf but I hope you caught the move on GbpUsd. I caught the move and made profits from it. Let’s get into the charts below.
Before initiating the trade, what can we observe? I can see a downward move, showing that the sellers are active in the markets, then a correction to the 1.24500 price mark (Retracements). This tells me that the trend is down and I should be selling.
Guess what? I saw a bearish engulfing at the 21 moving average. Initiated a short trade and placed my stops. Caught 100+ pips. Check where I placed my stops in the pictures below.
I hope this article helps you see the markets in a better way. If you want to join my trading floor, Contact me here