Yesterday, I wrote about trading forex GBPUSD, USDCHF, and EURUSD pairs with entries at the Average True Range stop can produce nice profits with little risk.

On trading forex GBPUSD pair I wrote:

On the GBPUSD, yesterday it touched the ATR on the 720 minute chart so we may see an upward movement on it today.  The 12 minute has been in congestion and on the touch of the congestion dot there was diverging volume.  The only thing that could potentially hold price down is the 180 minute chart which has an ATR at 1.6788.

What happened?  The 180 ATR flipped and there was a beautiful entry on the 45 minute chart as price retraced to the ATR on diverging volume with an entry at 1.6785 (first gray bar at the blue ATR).  I would have taken profits at 1.6827 as we have had diverging volume and it is now only about 20 ticks from the congestion dot on the 720 minute chart (which triggered the trade).

trading forex gbpusd

On trading forex EURUSD pair I wrote:

The EURUSD has made a magenta peak on the 180, which is also forming a magenta peak on the 720 minute and may come in also on the 1440.  That would indicate an upward movement and we have had a large wide bar to the upside.

What happened?  The trade never came in.  It flipped the ATR on the 45 minute but the RETEST showed sellers were increasing when the retest of the ATR occurred.

Trading Forex - EURUSD

On trading forex USDCHF pair I wrote:

The USDCHF on the 1440 minute chart has retraced to the ATR above price with a congestion dot at 8862.  This leads me to believe the market will go down this morning.

Because the action was off the 1440, we go down in time to 90 minutes.  The 90 minute flipped the ATR and then went back to test the ATR.   The only trade would have been up to the ATR (congestion area) when the volume showed sellers decreasing as it approached the congestion dot.

Trading Forex - USDCHF

Trading Forex gives you multiple opportunties:  A trader could have traded the binary options, the spot forex, the currency futures or a combination of the three.  There were multiple trades and multiple opportunties identified prior to the market opening.