The GBP/USD pair was sideways for the beginning of the London session with braiding EMA's. This is fairly normal before any somewhat major news releases, today's release being GDP at 4:30am NY time. However, the pair took off 30 minutes prior to news making the handling of a news 'price trap' trade far more difficult to manage. In this video we show you a few things to watch for to keep yourself out of trouble by chasing price. Then using multiple indicators such as bollinger bands, and various EMA's, along with a shorter term time frame. Can help you enter precisely with confirmation in the middle of a pre-existing move. As you will see however, proper trade management is also important. As this trade plan reached around 20 pips in profit it showed signs of ending prior to any target. Proper stop/risk management protected us from incurring a loss when a massive reversal took place.
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