Double Bottom - Weekly Ranging buy Breakout of H1 Trendline and a quick retest. Might have waited for a few hours for a better retest, but the psychological angst of missing a good trade kicked in. Now I am in the trade with a wide stoploss, because this pair WILL kick you out of a poorly executed trade. REASON FOR ENTRY: The hourly quick retest candlestick was...
Given the strong bullish sentiment on GBP recently despite a slight uncertainty regarding BoE's rate hike on May, and bearish sentiment on AUD mainly due to the trade war happening between US and China, setting up a buy stop order near 1.85 with TP @1.90 and tight SL near last Friday's low @1.82. www.poundsterlinglive.com www.fxstreet.com Daily: Weekly: ...
If price breaks the downtrend, then 500+ pip jump over time back to previous resistance.