Published: April 11, 2019 5:50 pm est
by Tom Kadale,
Contributor Market Analyst
NewsmovesMarketsForex
I’m starting to see a light at the end of the FX tunnel. One key indicator is the time it takes one of our signals to close out. Here’s what to look for… Late this morning I received a SELL signal for Cable (GBPUSD).
It was aligned with my personal views that I published in an article last month, “How to FX Brexit”. If interested, here’s the link: https://lnkd.in/eim8sCz My predictions have been spot on so far.
I started this order with a Trading Intuition Score of 37, 3 lots at the MARKET and 7 lots at the LIMIT. After the LIMIT order filled, I decided to add another 3 lots at the MARKET for a total of 10 lots.
The normal turn around time for one of our signals is 3 times the Period (M15) or in this case 45 minutes. I entered the trade at around 19hrs and exited soon after.
I’m encouraged by this trade because it tells me that FX trading is finally reverting back to normal. With the infamous Brexit moved to October, my expectations are for a weakened Sterling and Euro in the months ahead. I believe, the counterbalance with the USD should help other currencies move out of their respective tight ranges. An added benefit, indeed, our algo is following these developments in real time!
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From the RagingFX Trading Desk… Tom Kadale, Forex Algorithm engineer RagingFx.com and Guest Contributor Market Analyst for NewsmovesmarketsForex
