Lesson learnt: GBPUSD realisations (25 Nov 2013 9.30pm GMT+8)

By | November 25, 2013

Why was this GBPUSD trade successful compared to my AUDUSD trade today?

1. 2 leg pull back + lower high

Why did this GBPUSD trade move so strongly to daily S2, when my GBPUSD trade here on 22 Nov 2013, didn’t come close to TP at daily R1?

1. I realised it is the VWAP confluence lines. The lines must confluence with the Daily pivot lines in order for price to move there.

GBPUSD GBPUSD TP

GBPUSD

I’ve learnt to trust the VWAP lines as price targets. Confluencing them with pivot levels

 

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