Another Great Scalping Day!
Today, Chief Trader Armando Martinez explains two passive positions that he took earlier in the London Session on the EURUSD currency. Both positions are within minutes of each other and he offsets a loss on his first position with a 7 point gain on the second. On the first, he takes a short position and anticipates a breakout, but the price hovers above his entry level and he ends up taking a four point loss. There is indeed a breakout that occurs afterward and Armando recognizes an ideal entry position in the second Sell-Zone of the the FxPM™ matrix with PMDs and a PIP-ONACCI Wall. In this short position, he is able to offset his loss and still comes out with a net positive result! Learn how to consistently profit in the Forex market by identifying precise entries and exits with FXPM™ and Forex Successful Online Training School.
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Filed under: Daily Learning Moment
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