Caught on a Fakeout – Trading the Currency Markets
I entered long the GBPAUD currency the other evening. I had placed my order 10 pips from the previous high and was expecting quite a big move towards the upside. When my entry came, it went a few pips up and then went down. I had my stop below the last trend reversal pattern. Over the next couple of days, not much happened.. it remained in the range and I thought that since the price action preceding this was up, there was more chance of it moving north. When markets are stuck in a range, my vi
