All posts tagged Fib Matrix

GBPUSD +10 2016-05-27 | 60 min Bounce Trade

The current market volatility around Brexit has seen the prevalence of trading set ups not often seen in recent years. One is the 60 min Bounce Trade which this is a textbook example. The 60 min Bounce trade usually occurs when an extended move has taken place followed by a rapid and large retracement. Here you will see the trade is taken when price reaches the R2 60 min box. In addition there are further resistance levels on both the 5 and 15 min timeframes. As you will also note the 1 minute boxes have yet to appear (more than 30 pips away) indicating the speed and extent of the retracement. This is an ideal setup as the S1 box is leading the R1 box on the 60 min timeframe meaning that the trend is still down on this timeframe.

You can find out more about using forex price action, with the forex Fib Matrix trading software, here

Previous recording Forex Price Action | 2016-05-26 GBPUSD +8

GBPUSD +10 2016-05-24 | 5 min Trend Trade

This is a vanilla 5 min trend trade on cable. This trade occurs when a pair makes a new high (or low) and price retraces back to the first 5 min box. In a vanilla trade, such as this the boxes have formed a step pattern (see the red line linking the boxes on the 1, 5 and 15min timeframes) with a 5-10 pip gap between each set of boxes. This trade was textbook with it being taken around the first five minute box and giving us +10 pips.

More information and further help regarding scalping using forex price action, with the forex Fib Matrix trading software, can be viewed here

Previous recording Forex Price Action | 2016-05-20 GBPUSD +8

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