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torero

Week 23

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It's time to get back to forex, I think. Anyone seeing this? 50% retrace with falling wedge and Monthly S1. Watching here for clues to see if support holds.

 

GBPUSD-240MIN-FALLING-WEDGE.gif

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I have taken a short position looking for TP at 1.9716 if price makes its way down back to support at 50% fibs and holds ill take a longer term trade with a TP of 1.9988. But ill have to wait and see. (Think it will be a good R/R trade)

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Hey torero, nice call :). U nailed this one, as for me i misssed the bus i was waiting for a pull back to at least 1.9700 then i would have taken the trade.

(on my live account). since im still forward testing my longer term system i did buy yesterday on demo and still looking for a tp of 1.9988. But congradulation on the trade, and nice to see u back trading the pound!!!

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Thanks, yeah, it's been boring waiting for it to act normal again. I don't like historical areas too much, too many shifty nervous eyes.

 

We'll see how this go.

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Today was a nice confluence on technicals and fundamentals. We were at technical support and the BofE minutes were very hawkish so it was one of those "can't miss" trades.

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Hi Don, I dont know if you are following our "flip" aproach, but I see on your chart a lot of flips there that could have delivered very nice trades.... sounds like forex is very respectfull to S&R levels... cheers Walter.

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