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2sexy
Oct 15, 2015 2:03 PM

GBP/USD Possible Short Short

British Pound/Japanese YenFXCM

Description

Wait for a break of the support level at 182.729 then wait for a re-tracement back to the support level (182.729) Once this happens enter a short trade once a 5 minute candle has closed below the support level of 182.729 your target should be around the 182.304 area. Target is illustrated by the green circle. If it breaks beyond the red trend line at 183.323 wait for a re-tracement and enter a short once it hits the red trend line it broke through and your target should be around the 182.009 level.

Look for re-tracements on the 5 minute chart and for a candle to close below the support levels on the 5 minute chart
The grey lines illustrate what should happen, they don't however, show the exact point where the re-tracement will happen.
Comments
2sexy
Didn't go as expected but thats ok because I didn't lose any money.
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