GBPUSD 04 AUGUST 2020 0815 hrs (checklist in reverse)
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Highest target reached before the drop . Between the Oanda volume and FXCM volume , the signals were a little confusing.
But just like to the long side but in reverse:
Downtrend
RSI hit above 75 (on the 15 minute)
No demand entry (5 minute)
Confluence of 61.8% fib and resistance
Avoid buying into weakness/supply/resistance
Avoid selling into strength/demand/support
Avoid entry when price is in middle of a rage (phase B)
But just like to the long side but in reverse:
Downtrend
RSI hit above 75 (on the 15 minute)
No demand entry (5 minute)
Confluence of 61.8% fib and resistance
Avoid buying into weakness/supply/resistance
Avoid selling into strength/demand/support
Avoid entry when price is in middle of a rage (phase B)
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