Sterling Dollar

Chart courtesy of Dynamic Traders. Data provided by Esignal.

This chart is for Spikey a friend of mine who asked about todays reversal. As you can see, we had a morning reversal with a Doji at a PP and then the market had dropped the equivalent of £800 in less than 2 hours. The trade should have been taken immediately after the Doji was created so at 8.15am and not when the move down had started at 9.45am as that was just chasing the trade and although that can work, quite often you will find you end up getting the tail end of the trade and miss out on the big move itself. Stop ideally would have been placed around 19529 for the short position.