Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
As I said in my last article about GBPUSD, 200sma was holding the price and I called a short exactly when that moving average was breached:
In the daily chart below we have got some more important levels:
Price will reach the daily trendline somewhere around 1.5600 and I want to watch it carefully there for a possible bounce and a long position, but if the momentum was powerful and breached it then I will wait for the price to reach 1.5500 level and then bouncing from there, going further up and retest the daily trendline from below and that point would be the best area to go short.
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Winner’s Edge Trading, as seen on: