This could be the trade of the month! A long idea on GBPUSD.
Wait for the price to show you its mood. Two areas of high value are around. The parallel ray line from the 2nd touch on the trend line. The price can bounce back forming a double bottom up wards from there towards the blue ray line. Or the price can break below to the 3rd touch point along the trend line, and then it can rise from the ashes offering us a good buy opportunity!
Wait for the price to show you its mood. Two areas of high value are around. The parallel ray line from the 2nd touch on the trend line. The price can bounce back forming a double bottom up wards from there towards the blue ray line. Or the price can break below to the 3rd touch point along the trend line, and then it can rise from the ashes offering us a good buy opportunity!
Comment:
One of the best aspects of this set up is the 3 touches or the double bottom will form below the weekly ray line (if they form).