Higher HIgh after the Double Bottom

This is a follow up to yesterday's discussion about a potential double bottom. We said, IF it makes a higher high, then a bull could consider buying the pull back to the "role reversal" area.

Bulls to buy at support?

The time of day seems right, as NY is set to open soon. We see weekly and monthly pivots that can potentially act as support.. Based on simple price action, its a basic role reversal area. IF there are buyers in the market, they will likely buy here soon.

2 thoughts on “GBP/CHF 1-2-3 Entry… Coming Soon?”

  1. pippinusa says:

    Great trade plan. Where would a trader put a stop loss , or take the trade off if wrong ? With next week Brexit meeting, I imagine the chart can whipsaw .

  2. Zelda says:

    Hi Wayne,

    I only got this now – meaning understood what you meant – i have just watched a video on you tube of 21 May 2015 – went about how to use the stochs properly, then went into swing setups – i had no idea what that meant, and then finally ended with advice you gave a YJ – practice to recognize 100 x double bottoms and tops, then 1-2-3 and away… i did not know what that meant either when i saw this trade setup a month ago – when i heard it at the end of the video – and AHA moment…thank goodness – the penny dropped.- with a loud bang…and i had to come back and find this setup. THANKS a million.

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