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MEX_Exchange
Oct 13, 2017 2:32 AM

GBPUSD dropped perfectly, remain bearish Short

British Pound/U.S. DollarFXCM

Description

Sell below 1.3269. Stop loss at 1.3357. Take profit at 1.3032.
Reason for the trading strategy (technically):
Price plummeted from our resistance yesterday before bouncing back up again. We remain bearish looking to sell on major resistance at 1.3269 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push price down to at least 1.3032 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 98% where we expect a reaction from.
Comments
h_hs
Is your strategy still valid, in that we wait until it drops to 1.3032? thank you.
FreddieDEMajunga
GOOD JOB I DIDNT FOLLOW YOU
MEX_Exchange
@FreddieDEMajunga, lol i don't quite understand the sentence structure buddy. I hope you meant "Good job! Sadly I didn't follow you" haha :P
Berenguer
is this still active?
MEX_Exchange
Berenguer
@MEX_Exchange, the retracements on this pair is deadly
gendruwofx
hahaha
gendruwofx
yess my sell position is profit ..sell full margin
MEX_Exchange
@gendruwofx, sweeeet!
FreddieDEMajunga
IS THIS STILL GOOD ENTRY I THINK GOING UP OR AM WRONG
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