Monday, February 23, 2009

It happens again and again ... the OVERSHOOT

I don't usually trade this pair as their commission on my broker is 9 pips, hard to scalp on that sort of commission. However, this pair was the MOST trending of the night, therefore the need for a good anti trend trade. Because this pair trended the most, maybe the overshoot was the clearest. First goal after the overshoot: 23.6 fibonacci of the days range. It seems to work nearly everytime.

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