One of the most common reversal patterns is the double bottom. We can currently see that on GBPUSD.
Earlier today price tried to breakout of the previous low but with no success. It then bounced of and closed above the previous high.
This alongside with the downtrend breakout on the H1 timeframe gives us a signal that we can expect prise reaching the levels around 1,3810-20.
In this situation we place our stop loss below the second low 1,3667.
Earlier today price tried to breakout of the previous low but with no success. It then bounced of and closed above the previous high.
This alongside with the downtrend breakout on the H1 timeframe gives us a signal that we can expect prise reaching the levels around 1,3810-20.
In this situation we place our stop loss below the second low 1,3667.
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❓ If you got questions: t.me/Semkov
💰 PAID SIGNALS AND ANALYSIS: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
