The trading day didn’t start off so well with an aggressive entry and a -15 pip hit. However it ended great with 2 positions. One getting stopped by a couple pips at +58 pips and the other I closed manually when I got up this morning for +105 (orders slip below). I was very confident in this set up and set a pending order that missed the entry by about a half a pip but since I was already in with 2 positions I wasn’t too concerned and if I was going to put more risk on the table I wanted the best price to mitigate that risk. As you can see by my entries these trades went a max of 15 pips against me before the drop.
Essentially I identified a classic manipulation move out of the Asian accumulation. Once they showed a manipulation up it became very clear they were taking the stops out high and accumulating a short position. If you would like to learn to trade forex using our proprietary bank tracking techniques feel free to check out our forex trading course or our members forex forum.
Happy trading all.
Chad