Forex Trades - Live Room - Tuesday 27 May

Good afternoon all,

Its tough out there and a lot of mixed views in the market place for clear direction…

It is very important to react to market conditions and when the markets arent trending we need to adapt and move to shorter time frames eg the 15min chart. It will be a good idea to put your 84 CCI on your 15min chart. This is your 60min 21 CCI which is our entry point on trades… We are looking for strong moves above or below the 0.00. I will also explain the exit strategy using this strategy in the Live Room tomorrow…

Gold was the trade of the day so far with a great call short below the 60min 50ma from 925.50 and is now trading at 919.00…

Cable - A few guys in the room took the short on Cable and varied between 10 pips and 110 pips profit.. That purely comes down to money management and confidence in trading. The resistance was at 1.9850 and even when it looked massively bid a few went short with tight stops above the 1.9860. Otherwise many went short on the break of the bottom channel at 1.9745 for 10-30 pips profit.

GBPCHF caught many of us out today but a lesson learnt for all.. It is a beast but when it isnt trending well we must learn to stay away from this one, otherwise it gets expensive…

As mentioned the Gold was the play and a great high probability trade with quite a few of you short.  Great work!!!