On Wednesday January 23rd 2013 we had a very nice setup on the GBP/USD. Market cycles tend to run 3-4 days with most market cycles. After this cycle comes to completion their is a high probability of seeing a range bound market. Most trading strategies and systems end up losing any money they made through the trend and thus why it is critical that we all know how to deal with this type of market as it is rather common. If you do not understand market cycle here is another video that details it completely. Video Breaking Down Market Cycle: http://www.daytradingforexlive.com/live-forex-training-videos/forex-trend-trading-part-1-is-the-trend-your-friend/ Once the cycle comes to a completion we still have many great trading opportunities if we have the proper strategy. This is exactly what setup on Wednesday with the Pound. We had two high probability manipulation points for the Pound. These manipulation points are areas where we expect to see market manipulation. Therefore when the market comes into these levels and shows us a clear stop run the trade becomes valid. Here is a video explaining high probability manipulation point. High Probability Manipulation Points: http://www.daytradingforexlive.com/live-forex-training-videos/forex-trend-trading-strategy-part-2-retail-trader-manipulation/ After the entry we break down they entry even further. Enjoy!
Visibility: 4982
Duration: 7m 59s
Rating: 13