GBPUSD 0.618 retracement and hammer combination
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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Disclaimer
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.