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| GBP/USD Hourly |
Let's look at this, look how price tried to move higher but got rejected at fibo level and natural resistance 1.5500 figure. It's in downtrend, so the up move is just a correction, then it finally break the trend line (I think this is a bear flag pattern, but dun know, dun really care bout the name, what we want to understand is the price movement itself).
When it breaks the trend line, I dun jump in straight away and I might miss a trade but personally I like further confirmation that it's a valid break. Start looking for a SELL opportunity.. There's a fractal breakout, a bdb and sell near resistance (the trend line, support become resistance)..
I put sell limit near resistance but it didn't go there, only 2 pips away T_T
Then it continues down, break fractal sell at 1.5446, closed at 1.5376 (near support level) for 70 pips profit..
For today there's a tight pattern, let's wait wat happen at london open
EUR/USD BDB at support level daily low
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| EUR/USD Hourly |
Buy at 1.2690, Closed at 1.2720 for a 30 pips profit.
A first attempt to move higher, normally it will retrace back to retest the support level and I'm waiting for that..
If we look at the 15 min chart, there's AO divergence, build up my confidence level to enter the trade..
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| EUR/USD 15 min |
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