Want to show you all a great trade from last week on the EURAUD which shot up over 300 pips in 3 hours. Forex has its ups and downs, sideways movements, stale markets… well, not with this pair on Friday. I’ll point your attention to the ever-useful Rainbow MMA Crossover template as seen on this FXDD Meta Trader 4 chart. At around 7:50 GMT the pair crosses over from a downward trend, to an upward moving trend as evident with the “flipping of the rainbow.” If you are trading just that indicator alone, you would have made anywhere from 250-300 pips in a few hours, exiting near any one of the resistance points, motnhly daily, or even fibonacci target lines.
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