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GBPUSD PROFIT

17th March 2017 contacttf

The foreign exchange market is the market in which participants are able to buy, sell, exchange and speculate on currencies. Foreign exchange markets are made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors.

All charts line up.

The candle was near the resistance on the 1 day chart. [Screengrab showing stop after the trade].

Stop was place above pivot point [R1 1.2399].

It took a while for the the trade to react.

Trade closed profit. However, I made a mistake in closing before RSI [red].

Foreign exchange, commonly known as 'Forex' or 'FX', is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Forex is the world's most traded market, with an average turnover in excess of US$5.3 trillion per day.