Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
GBPAUD finally reached the daily trendline at 1.5940:
Meanwhile, there is in the support zone and now is attacking the lows.
The strategy goes this way, wait for a bullish H4 candle that closes above the trendline and go long there but beware of NFP tomorrow and you should close the trade before it.
But my strategy before some important news releases is to find some positions before NFP and see if they are positive just before NFP releases and move my stop to BE and let it ride after the news. In this case I have a risk-free position and a great possibility to catch more than 100 pips in couple of minutes.
Note that market is wild these days and you have to wait for a confirmation for your setups.
We had another setup on GBPAUD yesterday and around 70 pips profit it produced.
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Winner’s Edge Trading, as seen on: