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MarcusHN
Jun 4, 2021 5:27 AM

GBPUSD Double Bottom Long

British Pound/U.S. DollarFXCM

Description

Risky trade as price is still consolidating in the region. Entry is based on Double bottom. Price melted yesterday and is now consolidating. A good guess would be insitutions taking profits. Which means orders are taken out and price is likely to go back up to fill orders. However, this is a counter trend trade so I'm taking profits at the next resistance level which is at 1.4146

Comment

Stops move to Breakeven

Trade closed: target reached

Comments
lqdir
Interesting analysis 🧐
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