FOREX New York Session Video September 5, 2007

The U.S. pending home sales report for July provided the market with a big surprise at the midpoint of today's New York session. The headline figure was a multi-year low, and the market responded by dumping dollars. Traders who took the break of the GBP/USD above the close of its first 5-minute candle after news enjoyed a "ride on the 5," ending 75 pips later at the overlap of R1 and a psychological level.

Category:

Howto & Style

Tags:

• Forex
• Training
• Currency
• Dollar
• Money
• FX
• 4X
• trader
• Foreign
• Exchange

[smartforextrader]

Very nice video. Click on my nick to see may free forex courses.

[RomanusIV]

Walking the Band... great! ;)

[welshguy2000]

Great news trade Curt - couple of queries:

1) The housing news clearly showed massive dollar weakness, however when drawing your line in the sand, u placed it at the close of the news candle, where as most of the other times you place it on the wicks? This is where i placed my line & therefore had to wait much longer for an entry, which should you use when?

1 thing which works well in fast moving markets is the 3 bar rule - which worked a treat on this trade, do you know what i mean by that?

[leepakim]

great, strong trade.