FOREX London Session Video September 11th, 2007

After GBP GDP was released the GBP/USD spiked within a 17 pip range over the next 5 minutes. After the first 5 minute candle we identified support & resistance, and planned a trade setup based on a break of those levels. After a break through the upside price trap we were able to initiate a relatively low risk vs. high reward trade plan with confidence. The result did not exactly follow through to our eventual target cleanly, but depending on each member's exit strategy netted us anywhere between 15-60 pips. A successful trade nonetheless. This video can help show how using multiple time frame S&R areas in addition to shorter term confirmation charts can provide the confidence to take a position on a fast moving breakout trade for some nice, easy, stress free pips.