MTI Analyst Articles

Major Movers

GBP/USD Breakout

March 1, 2010

Jeffrey Watkins (Fx-Enzo)

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Chart Analysis

Today's highlighted major mover currency pair is the GBP/USD currency pair focusing on the smaller time frames of the 60 and 15 minute charts.

The breakout today on the GBP/USD currency pair offered a substantial opportunity to trade in live market conditions.

Trading this currency pair today resulted in HUGE profits, trading a simple strategy waiting for the breakout of a small consolidated trading range.

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Chart Analysis

Although we could have traded this setup from the 60 minute chart, if we would have taken that setup from the 60 our risk would have exceeded 100 pips to make an equal 100 pips or possibly more.

However, using the smaller time frame of the 15 minute chart allowed us to maximize our potential in trading this currency pair.

Had we traded the GBP/USD currency pair on the 15 minute chart rather than the 60; we would have had a risk of around 50-60 pips, and our profit potential would have exceeded 275 pips!

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Analysis

Looking back at this specific setup we now know trading the 15 minute chart would have been more beneficial to individual traders and money managers alike.

However, without the education necessary teaching us to look for the opportunities to enter from the smaller time frames, we could have been stuck watching a trade wishing we were in.

Today's highlighted major mover is just one currency trading just one day, imagine the possibility trading multiple currencies every day with the proper education to succeed!

All of the analysis is done using the MTI 4.0 charting software, practice these, and other great strategies for FREE, by downloading a 14 day trial of MTI 4.0 charting.