Another Great Scalping Day!
Today, Chief Trader Armando Martinez takes a trade on the EUR/USD currency pair as its price approaches a level in the 1-Minute time frame of the FxPM™ Matrix where blue and pink PMDs are converging. He takes a long position here, anticipating the level will hold as support, and immediately protects himself with a -7 PIP stop-loss. Shortly thereafter, he adjusts his stop to breakeven, thus eliminating risk on the trade. He exits the trade with +7 PIPS of profit once the price meets resistance at a PIP-ONACCI Wall in the 1-Minute time frame. Learn how to generate consistent profits and emotion-free trading in the Forex market long-term with the FXST Trading System.
Filed under: Daily Learning Moment
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