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

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
Casey_Yeo MinervaFX
Good luck then. I find it stressful to trade news. Don't you?
MinervaFX Casey_Yeo
ohh yes, not a great day but I didn't expect to be in my usd/jpy trade so long.
That was fast. Stopped out.
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...
usd/jpy is killing me today
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...
+1 Reply
Casey_Yeo MinervaFX
Take a break mate. Come back tomorrow with a clearer mind. :)
KevinT Casey_Yeo
Went fast indeed. Killed by the famous Brave Heart. FREEDOM!!!
Yes, that was totally unexpected - I mean the growing support for independence.
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