It's a fun idea to think about, but you have to remember the financial events of 07/08 and the reasons why GBPUSD was at 2.0000
I don't think that realistically you can look at this chart and decide that another event will have the same impact as an economic crisis. Also, have you not considered the possibility of a simple fakeout haha - I would at the very least have waited for a retest of the trendline to confirm this trade
JordanRAWFX
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@beanoclock but how can you not realistically look at this chart considering ages ago it did the exact same thing except dropped massively when it broke out. Breakouts happen. How you trade is how you trade but what I see is an uptrend happening.
Captain-K
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debating if I should enter or not haha. Have seen some traders anticipate a sell so I'm waiting to see more bullish momentum
JordanRAWFX
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@Captain-K that’s what people do sometimes think it’s a sell on smaller time frames but due to the higher time frames I’m seeing buyers in control
I don't think that realistically you can look at this chart and decide that another event will have the same impact as an economic crisis. Also, have you not considered the possibility of a simple fakeout haha - I would at the very least have waited for a retest of the trendline to confirm this trade