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theforexarmy
Jul 19, 2018 2:13 AM

GBPUSD Bounce Off Support, Prepare For A Rise! Long

British Pound/U.S. DollarFXCM

Description

Buy above 1.3030.
Stop loss 1.2945.
Take profit at 1.3222.
Reason for the trading strategy (technically):
GBPUSD bounced off its support at 1.3030 (100% Fibonacci extension, 76.4% Fibonacci retracement, multiple swing low support) where we expect price to rise to its resistance at 1.3222 (76.4% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback resistance).
Stochastic (89, 5, 3) bounced off near its support at 3.3% where a corresponding rise could occur.
Comments
TongDingSiTong
hi man,I have to tell you a bad news.I found that some of your idea is being copied by ICMarkets.Like this
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