GBPUSD PROFIT

GBPUSD PROFIT

4th March 2019 contacttf

The Foreign Exchange market, also called FOREX or FX, is the global currency trading market. ... On the FOREX market one currency is exchanged for another. The single most important thing on the FOREX market is the exchange rate between two currencies (a currency pair).

I missed the earlier entry because I was busy filtering out the trade opportunities.

I needed to be patient and wait for the price to come back down to the support line.

Although, not ideal, trade taken after a small reversal.

Fortunately, trade carried going up, but I was getting emotionally involved with every tick. Trade closed because of this.

GBP is Fundamentally Bullish. The news about Brexit, is driving the price up.

I was getting a lot of US data, which stifled the progress.

The relative strength index (RSI) is most commonly used to indicate temporary overbought or oversold conditions in a market. An intraday forex trading strategy can be devised to take advantage of indications from the RSI that a market is overextended and therefore likely to retrace.