GBPUSD LONG There are 3 confluences for this Price is forming that W pattern for a long we are only advised to enter after we see bullish reversal pattern please dont forget to apply risk management
Also the fibonacci retracement tool which can also indicate a buy when price get gets to the 100% zone that shows an exhaustion in sells , This can also be referred to as double bottom After all these confluences are confirmed Traders can enter for a long TRADE MY SETUP AT YOUR OWN RISK
i expect bullish reversal right here, since price has dropped from 37.000-34.000 (3000 pip) there will be intervention to prevent price getting lower and i agree potential double bottom
born2bwylde2005
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its at an expanding descending pattern price continuation pattern lower prices intensify till break out
born2bwylde2005
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I would sell since we are high in the pattern
borketeybortei_
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@born2bwylde2005 okay it will be considered a sell if it breaks the low and invalidates the Double bottom
born2bwylde2005
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@borketeybortei_, yea I’m already like 20 pips in on this drop and I’ll probably collect here if it begins to go sideways and I’ll wait for the next drop lol
@born2bwylde2005, I’d say we are sideways right now if it breaks the expanding pattern on the low side it will continue to plummet it’s a good sell opportunity I’m right now riding it down if it still drops by tomorrow’s close I’ll pull out and wait for opening