With confirmation on the lower timeframe, the 1‑minute chart showed that the London market opened with a strong push to the upside. It went against multiple divergences and signals that indicated the market was overbought. However, given my deep knowledge of the forex market, I know that the oversold and overbought narrative doesn’t necessarily apply to currency pairs; they can move much higher or lower until exhaustion. I took partial profits while leaving the rest to run, although I don’t really believe in taking partials, especially on a highly leveraged account. A win is a win. Cheers.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.