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Forex Scalping Strategies | 2016-06-08 GBPUSD +11

Forex Scalping Strategies | 2016-06-08 GBPUSD +11

GBPUSD +6 2016-06-08 | Orange To White

This is a fairly regulation Orange to White trade. Price is extremely over extended with the 1 min boxes not even showing on the grids indicating they are more than 30 pips away. Further evidence of the extent of the move is the deep orange colour on the 1 min and 5 min time frames. The entry was taken just past the level when price stalled. It is always important to take Price Action into account when entering. In this trade waiting for the price to stall after the level was the key as momentum can take you past the level on swift moves.
More details about using forex price action to scalp using the Fib Matrix TimeLanes trading software, here

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