The picture shows that the new trade is entered at the Fibo 50% indicated by the green dotted line. Since the price has pulled back to Fibo 50% level previously, it would probably pull back to the same level on the next correction. Let's see how many pips we can get from this trade. At the this point, there is no pip in profit. Double bottom indicates that there could be an uptrend reversal signal and it acts as a support line for the price.Do you like this article? Share It!
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