FX:GBPUSD   British Pound/U.S. Dollar
2618 setup is completed in H4. Price has overshoot 61.8% level and touched 78.6% level (which is a better price to enter). Having said that, of course, there is a risk that price may just continued to fall and take out the lows of the double bottom .

Another confluence for this trade is the buying opportunity here is in line with my earlier idea (see link below) - bullish cypher pattern in the daily chart . It is within the buying zone.

I'm going to play this as a 2618 trade with tighter stop loss, compared to the cypher stop loss placement.

Related Ideas

Casey_Yeo MinervaFX
Good entry there based on 1H pin. I saw that too but too bad it's not in my strategy to trade pin bars in hourly charts (hence my SL was not placed below the pin).
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That was fast. Stopped out.
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Scu_FX Casey_Yeo
The strength of USD today is a little bit surprising to me, i also have two open trades with -40 pips in EURUSD and USDJPY...
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usd/jpy is killing me today
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Scu_FX MinervaFX
well, as we see, in this zones many decisions are taken, some of them rational and some of them irrational. that's the business...
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Casey_Yeo MinervaFX
Take a break mate. Come back tomorrow with a clearer mind. :)
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KevinT Casey_Yeo
Went fast indeed. Killed by the famous Brave Heart. FREEDOM!!!
https://www.youtube.com/watch?v=lEOOZDbMrgE
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Yes, that was totally unexpected - I mean the growing support for independence.
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I'll just wait for the US data and see if I'll make some money or if I'll just turn off my PC and leave it for tomorrow :D
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Casey_Yeo MinervaFX
Good luck then. I find it stressful to trade news. Don't you?
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MinervaFX Casey_Yeo
ohh yes, not a great day but I didn't expect to be in my usd/jpy trade so long.
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