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Renforex

GBPUSD - Descending ChannelThe previous chart showing this trade setup (along with the majority of my other charts) were hidden/deleted due to accidentally breaking the rules with my descriptions. Sorry guys! I'm re-posting it since it was still on my screen... Black line is entry, green line is initial TP level, red line is SL. I don't know how much of a demand there is for me posting here. I'm not sure if anybody other than those who are connected to me via other channels are even able to view these charts as visibility is skewed towards those with thousands of followers on the home page... So I'm unsure if I will continue posting. Maybe occasionally, I'm not sure yet... You guys know you can always PM me to discuss trade ideas though or ask for friendly advice. But anyway, this is fairly safe, low risk trade. Enjoy.
Short
by Renforex
10
EURGBP - How to trade the next moveWe've made some good pips with this pair recently if you have been following (related ideas). Here are the two scenarios. Scenario 1: Price breaks under current support and we sell Scenario 2: Price remains in the structure and starts rising towards the top I favor option 1, and this is the trade I am waiting for... However I will happily use Scenario 2 as my "plan B" to make pips anyway. Knowing what will happen if your ideal scenario DOESN'T happen is the best way to keep profits consistent and minimize frustration.
by Renforex
2
EURUSD - Triple WhammyPlease see related idea for more insight. Many pips made so far with these moves recently. This is what I like to call a triple whammy. 1) The gap must be filled 2) Retrace is due. 3) Previous support should be tested as resistance. The combination of these factors allows us a better understanding of WHEN the price is likely to reach our target. Which makes it easier to know when the exit (/look for re-entry) if the trade is not going to plan. As always, trade safe and have a properly thought out exit strategy to minimize losses.
Long
by Renforex
1