GBPUSD +6 2016-06-14 | Preemptive Reversal
This GBPUSD trade is an example of 1 min preemptive reversal. Here after a sharp move up the 1 min L1 and L2 have crossed over on the 1 min timeframe and the white zone has shrunk. In addition the 5 min boxes are more than 20 pips away meaning there is good scope for a retracement down. The condition of the white zone is important in than if it expands it tends to push price away while when it contracts price is drawn to it.
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Previous recording Forex Scalping Strategies | 2016-06-14 USDJPY +7