Forex Price Action Baby, No Technicals or Fundamentals…Trade #3 – Sold GBP/AUD (2/6/19)

10,000 Ft View – 4 Hr Chart

Zooming In

This trade was over even before it started. The entry and stop is 25 pip wide. The entry occurred right before the day session ended at about 4:48 pm. I was stopped out 25 minutes later, when the next day’s session started. The issue was at the beginning of any forex day, there is no liquidity. Thus, the spread on this pair at the beginning of the session was 20 pips. Normally, the spread is 2-4 pips. Thus, I didn’t even have a chance to be right.
The set-up had somethings going for it.

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