GBPUSD 0.618 retracement and hammer combination
Updated
GBPUSD has a 0.618 retracement after the rally, and it gives a very significant hammer that shows huge buying pressure.
Most of the time, I prefer to trade hammer with the breakout strategy.
While in this case, the hammer is just too long to trade it directly, so I would more like to wait for the 0.618 retracement of the hammer itself.
Most of the time, I prefer to trade hammer with the breakout strategy.
While in this case, the hammer is just too long to trade it directly, so I would more like to wait for the 0.618 retracement of the hammer itself.
Note
Got the 1st kick, trail the others!
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