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ChinaHelloWorld
Apr 17, 2024 1:52 AM

Long EUR/GBP Long

OANDA:EURGBP1D
EUR/GBPOANDA

Description

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In Daily time frame, the price got supported by a short term channel bottom line.

Slow Stoch and RSI both are in a over sold level, crossed and turned to North.

The price would turn to North and moving in a big sideway channel. Stop long trade if the price break out the short term channel bottom line area.


Comment

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Continue long, the first profit target should be triggered, since the power to North still strong, keeping the long tread and set prevent profit stop.

Trade closed: stop reached

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Long trade closed by stop triggered

Trade active

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The price standing back to the channel bottom line area, try to open long order again.

Comment

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Long as expection, Continue long
Chart PatternsTechnical Indicators
Comments
ICmarkets
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Nice analysis on identifying a suitable buy zone, which is based on multiple bounces off the level. The buy zone lining up with the lower part of the bullish channel could suggest some bullish momentum coming into the market. Let's see how this plays out.
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