Wednesday’s London Live Forex Trade Room session was gerally very quiet but toward the it Euro started to move short (go down). Paul saw a possible take a orange to white trade (revision to the mean) with a twist. The price had diverged more than 12 pips away from the L1 disk level, on the 1 minute time frame, and was just about at the 15 minute band shade. Paul also saw, that the S3 support pivot was at 1.1117 and had yet to be touched that day. This gave him confidence to take EURUSD long (buy EURUSD) as he had multiple indicators confirming the trade. Although taking longer than initially thought the forex trade worked out well producing +6 pips.
Using For Pivot Points with Tiger Time Lanes Band Shades: Live Forex Trade Room 2015-03-04 EURUSD +6 pips