I will keep it short this week as I wish to follow on from last week that we have the opportunity in the GBP pairs for substantial gain.
Do try and trade the longer time frames and hold even if it is a micro lot.
If you feel you have missed the market just wait for a pullback in the faster time frame.
In this example below on the 480-minute (a third of a day) the magenta arrow shows the start of a downtrend.
GBPJPY 480 Minute Chart
The daily and weekly charts are also in a downtrend.
GBP Daily & Weekly Charts
Wait until the 480 minute pulls back to green, then heads back to red. Now you have all three in the same direction and you can take a low-risk trade.
This technique applies to any three time frame set up.
I would also like to congratulate Chris T., who is a Hawkeye trader, in his first month of going live from sim achieved 386 pips. Good work!
We demonstrate this and many other methods in our live demonstration room held every Wednesday, and this is open to everyone. Click this link for more information or to join us in class.
[The magenta arrows are for illustration only and do not form part of the software]