Here is an interesting case to discuss:
I took this short based on a classic confluence of M15 35/50 with H1 10 and RN (1.3550).
Instead of waiting to go down to 1.35 as one would expect for target, I exited manually as soon as price hesitated, still with a nice +23p.
The reason is that price could very well bounce upwards because it is at the H4 EMA10 bounce area and GU is in a strong bullish trend. Notice how it is trying to make a double bottom and in that case we will look for a "scoop-up" trade if it crosses up M15 35/50 and then retraces to M15 EMA 10.
I took this short based on a classic confluence of M15 35/50 with H1 10 and RN (1.3550).
Instead of waiting to go down to 1.35 as one would expect for target, I exited manually as soon as price hesitated, still with a nice +23p.
The reason is that price could very well bounce upwards because it is at the H4 EMA10 bounce area and GU is in a strong bullish trend. Notice how it is trying to make a double bottom and in that case we will look for a "scoop-up" trade if it crosses up M15 35/50 and then retraces to M15 EMA 10.
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