Tuesday, September 8, 2009

Early morning news trade


5:30am and I'm up trading the news..a little about my trading style in case you're unfamiliar...I scalp the GBPJPY (British Pound crossed with the Japanese Yen), jumping in and out, looking to target a few pips on each trade..anyway the news was released and the data was positive for the Pound, but the market took a while to respond and when it did, volatility was minimal...I managed to grab +11 pips...more than enough for me and I won't be able to trade the u.s. session as I'm busy this morning..first pic shows the trade on a 27 cyrox chart with power tool indicators, and the second shows the trade on a naked (no indicator) 6 cyrox rainbow..i take signals off of the c27 and use the c6 for timing entries...back tomorrow

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