Power of 0.618 GBPUSD touched the 0.618 1.4065 and reversed nicely When it is good time to buy the pull back? 0.618 is the most important level you should pay attention. I am still holding my previous long position at 1.3870 and I added some position at 1.4065
Comments
abbasial
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perfect setup Jack, Thanks
LeeFuGuo
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Same view and entered market around 1.408 :)
Nice one Sir, learned a lot from u :)
LeeFuGuo
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Sorry ... I have 1 question to ask ~ u have mentioned above u still holding your previous long position at 1.3870. I remember your previous trade you entered short on Gold. So isn't there is a contra? which will result in 1 gain and the other one lose? Sorry because I'm still new :)
tntsunrise
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Not really. Long GBP and Short Gold, you can look at the XAUGBP chart, it is going down.
LeeFuGuo
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Thanks !!! Appreciate your information :D
tntsunrise
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CONGRATS!
DAVID_GIRALDO
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i had taken the same trade justr before news! luckily i got in less than 5 min before. seems like a libra pattern or at least thats what i had seen as well as the .618. does that structure to the left make for a libra? if not can you explain to me why? dont want to ask for too much sorry
tntsunrise
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CONGRATS! Yes still make a LIBRA, that's why Price reversal nicely at this level
DAVID_GIRALDO
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thanks jack. yea ive tried to look up rules for libra pattern but the only place i see it is in your post but i take what i can learn and make the best out of it so i have learned this pattern from what ive seen in the setups youve posted so a big thank you jack