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Exploit ‘Daily’ Stop Runs for Short Term Day Trading: Live Trade GBP/JPY

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Exploit ‘Daily’ Stop Runs for Short Term Day Trading: Live Trade GBP/JPY


ANALYSIS

This price action is often referred to as the V formation or the daily stop run. As you can see, the price took a complete average daily range (ADR), push to the downside and then rejected it with another ADR move to its upside. All in a single day.

This formation indicates a strong rejection of lower price and is often accompanied by continued price action in this direction.

Because of my bias, it was my intention to seek out a continuation move to upside the 156.00 manipulation point.

Installation



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