Definitely an interesting day in the forex market with the European morning following the script pretty well as it swung between levels and then things just shut down for a while. Why? Bernanke was due to speak and so everyone was waiting to hear what he had to say. Obviously it shocked the market a bit because we then had a very quick move down followed by a reversal that shot right back up. Bottom line is that we were able to make good pips when the markets were ranging early and also got some when they were trending late. Having an adaptable trading system to be ready for those changes is key! Check out the video to see how we traded it with The Elite Range Bar System.
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