Hi, this is a live recording of a winning €uro/$ trade that I took this week. The trade was based on the “Forex London Breakout Method.”
In the first short video, I showed the setup and why I took the trade.
In the second how I took some profit & managed the trade.
I then left 20% balance to run with the chance to make even more profits.
This used to be one of the easiest forex strategies to trade but it stopped working around 2016 when the Asian session became more volatile. However, it might be back!
I also had a winning Gbp/$ trade a few weeks ago using the same strategy. Fingers crossed this setup becomes a regular event going forwards.
Check out the videos so you know what to look for if the pattern lines up again. Then how to manage the trade.
Here are the brief notes about the entry and the potential risk-reward ratio:
I made a short video of a €/$ trade I took yesterday.
That’s the 3rd week in a row I managed to find a trade on a Monday that wasn’t the “BIG” area I was looking at. It’s all about the flexibility and thinking on your feet that I have explained on numerous occasions of late.
This is what I said on Sunday:
“The BIG area if it drops is still 1.1520 to long although it’s tricky on the stop. It’s currently around 1.1700 I am tempted to long it after the market open, but might wait for London.”
I waited for London to open. There had been very little movement in the Asian session, only a 15 pip range. The average range at the moment is 70 pips per day so it had to go somewhere and it had consolidated at an area with multiple reasons. In the same area there was 61.8% fib, whole number, 55ema, previous support & resistance, daily trendline going back to June. So what happened next?
This was the update video on Friday. By this point I had taken 80% of the profit at around 100 pips and left the balance to run
Hi, quick update. I show the balance of the €uro/$ trade from Tuesdays live training session. I have taken 80% of the trade off at an average of + 100 pips profit. I have left 20% to run and moved the target on the balance.
I show how members Tobias & Jonah both had winning weeks and my advice to them re moving stops/taking profit and managing them.
I missed two entries by a few pips that went 100’s 🙁 but they stopped at my target areas so see why I choose the targets that I do).
Check out the video:
Have a great weekend, I will be back on Sunday with my analysis for next week
regards
Marc
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