10-28-2013 Forex Room Review

Hello Traders,

I have not been writing much on the public blog so I would like to write a brief article and follow it up with a video. Last week was a great week for the room, as we grabbed +323 pips in total with both EURO as well as U.S. session. Please keep in mind that last week was the NFP, so this allowed us to go with the bigger moves than normal last Tuesday. This also sparked some nice moves on several pairs. Our Forex Room was on fire.

I want to recap a trade taken with an important level in mind. The target on the AUD/USD of 9555. This was at several key levels including the 20 period moving average on the daily chart. I have been posting this area for the last week and we finally hit today for +40 pips. You will see in the chart below that since this pair ran stops above fib area at 9715 we made a sharp reversal. We had a lesson today on why we entered, where we placed our stops as well as the best way to manage this trade is it did go in our direction.

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