GBPUSD Hourly, 2618 setup (LONG)

Its been a while since I entered with this setup, but this one had a case with historical support and resistance area coinciding with the 2618. A clear double bottom, right at the level. With a break to the upside (break of the "v" point of the double bottom) followed by a 0.618 retracement - and here we already see some reaction.

Targetting retest of the previous high followed by a 0.618 retracement of the larger bearish leg - which coincide with 1.286 round number.

Stop loss below previous lows

Kommentera:

First target hit, profit secured.

Trade stängt: målet nått:

Second target reached, remaining position closed.

Time for weekend!