Reading Smart Money Like A Book
EURUSD & USDCHF – Wednesday, 13 November 2013 was one of those days that everything just moved into place so nicely, making every second worth while! There is a saying: “Cut your losses short and make the winners count.” Today we made the winners count, following Smart Money throughout the New York Session, tracking their every ‘pip’.
Pair Correlation Played A Big Role
I mentioned our potential key levels before we moved into the NY session open, expecting some action to take place. The extreme volatility kept us even more disciplined than normal– which is a must! As I am typing this the EURUSD is sitting at 95 pips from top to bottom. This could have been well over 150 pips if we did not have the 2 reversals during the session. We took full advantage of this, waiting for each of the above pairs to move into their respected levels while executing our trades based off of the manipulation.
We placed 2 End Of Day trades, EURUSD CALL & USDCHF PUT, which has expired in-the-money a few minutes ago. That was a nice ending to an already successful day to some of my Skype Group members. Happy students make a happy mentor…. Another chapter of the ‘Smart Money Book’ has been paged over, making us better traders tomorrow.
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