hey traders,
on a pound dollar we see very interesting trading setup.
on the hourly timeframe, there is a clear rising wedge pattern and we can contemplate
a false bullish breakout that recently occurred.
if we look left we will notice that 1.291 is a mystery level that the market has respected many times before.
and again, this level was touched a couple of hours ago and we see a clear rejection.
now I will be looking for a bearish breakout of this rising wedge.
I need to see a clear bearish violation of 1.286 level to sell the market.
your initial target is 1.274 and your second target is a bit above 1.25
your stop above 1.295!
good luck!
Comment:
formation of a double top
Comment:
Wedge is broken
Comment:
going down
Comment:
almost hit the initial target
Trade closed: stop reached:
after reaching the first target stop is reached!
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