A nice classic breakout trade this morning during the London session. All day yesterday and overnight cable has been ranging (blue zone), and it was just a matter of patients to see if it wanted to continue in that mode or push lower. In my opinion it was unlikely to push higher as that 1.55 ceiling has kept things in check since the end of February. This recent downward move with such high momentum could be the start of a further push southwards, worth keeping an eye on anyway.
Price broke support then gave us a nice little pullback on the 5min chart to allow an entry with a 30pip SL. First lot closed out for 30pips giving us the breakeven point now at the SL level, and finally the remaining lot closed for 85pips, giving 115pips in total.
Please keep the good work up.
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Keep the good work up n keep posting.