Attached is the latest hourly control bar for EURGBP with its highs and lows marked. You can see how it has held the pair within the range of the bar and any breakouts have been good for nice pips...
How do u trade this? many ways. Trade the range. Take short when price reaches the high of the bar. Take long when price reaches the low of the bar. Small SL, good returns.
Wait for break and retrace and go long/short on the retrace so that you make good pips on the bounce. This is trading the breakouts.
If you look at the GU hourly bar in my previous post, you can see how the price bounced off 30 pips from the high of the bar. DD ? less than 7 pips...thats the power of these bars..
Over the weekend, i will post the latest hourly and daily control bars for the various pairs and we shall track them for the next week.
