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amanpaulbhogal

Inside bar set up on GBP/USD

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
amanpaulbhogal  
FX:GBPUSD   British Pound / U.S. Dollar
Support and Resistance 200ema-rejection Inside Bar Trend Lines stochastic-hidden-divergence rsi_divergence
11
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supportandresistance 200ema-rejection insidebar trendline stochastic-hidden-divergence rsi_divergence
Rationale for taking a short trade on GBP/USD

- down trend (lower highs and lower lows)
- price pulled back into a previous level at 1.5500 and 200 ema, and closed below both thus encountering resistance
- an inside bar formed just below this level of resistance
- in its pull back, price also found trend line resistance (4th retest) and closed below
- oscillator hidden/trend continuation divergence

entry - below low of inside bar
stop loss - above high of mother bar
target - at or below previous low
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