All posts tagged 5min L7

GBPUSD +9 pips 2016-05-06 | 5min S7 and 60 min Bounce Trade

Cable is ranging in a fairly quiet market, indicated by the close proximity of all the levels. It has risen to near the top of the range. There are in fact multiple set ups that are triggered at this point which makes the trade so attractive. The key level is the 5min S7. The five minute time frame is trending down with the S1 leading the S2, S3 and S7. In addition price is also midway between the two 60min boxes with its time frame also trending down S1 leading the R2 and R3 .

More details regarding trading forex price action, with the forex TimeLanes trading software, can be found here

Previous recording Forex Price Action | GBPUSD +9 pips 2016-05-05

USDJPY +7 pips 2016-05-04 | 1HR Bounce Trade

In this trade we have USDJPY moving higher to a bank of resistance across all four time frames with the 5 in S7 and the 1HR box being present. The level worked well producing a net +8 pips.

For more details regarding trading forex price action, with the forex TimeLanes trading software, please click here

Previous recording Forex Price Action | USDJPY+8 pips 2016-05-03

 
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