FOREX New York Session Video August 22, 2007

Early in the New York session, the USD/CHF broke the M4 pivot point and a major psychological level to reach R2. While waiting for a bounce at M4, traders who monitored currency correlation and the 3-minute chart found no reasons to execute a long trade. Instead, the subsequent signals led to a short trade which targeted the central pivot point, producing a 40-pip profit.