Scalp trade on the EUR/USD

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Scalp trade on the EUR/USD

eur/usd 2 minute chart
Hawkeye – EUR/USD 2 minute chart

Trading success in the Forex market depends on several factors, but staying in the trend to maximize the profit available is perhaps the most important, and this is where most traders fail. Staying in a trend requires discipline and the ability to manage the fear that we all have when a potential profit is on the table. Markets never move higher or lower in a straight line, and the key to success is to continue holding during these minor pullbacks and reversals, and this is where Hawkeye is so powerful, and the EUR/USD on Friday, gave us another excellent example, this time on scalping 2 minute chart for the pair. Indeed this was a trade we were watching during the London open, and just after 9am UK time, Hawkeye duly delivered a Roadkill signal for a bullish move higher.

This trade continued almost unbroken throughout the morning, with further roadkill signals confirming the trend, coupled with the Hawkeye Heatmap, and buying volume in both timeframes. The move finally ran out of steam almost three hours later ahead of the speech by Ben Bernanke, an eagerly awaited event with the markets expecting an announcement on a further round of quantitative easing.

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