Forex Trading Floors GBPUSD 5 minute

4
Feb

Good morning Pipsters. This mornings trade from the trading floor was taken on the GBPUSD 5 minute chart. As you can see from the picture below the 5 minute chart has been in a strong down trend. The start of the green trend line is not shown as it would not fit on the screen. You can see that price broke the trend line to the north and then put in a small trading range. Price then broke the bottom of the trading range and tested the smaller bull trendline and also the bear trendline both from above. I entered the trade at market as price hit the bear trendline and enjoyed a swift move up to give me my one percent for the day.


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