Technical Analysis Factors:
Support Level: The pair may have reached a strong support level where buyers saw value, creating a demand zone that halted the downtrend. Look at previous price action and identify historical support levels where price has rebounded in the past.
Oversold Conditions: Indicators like the RSI or Stochastic Oscillator could indicate oversold conditions, prompting buyers to step in as prices are deemed undervalued.
Fibonacci Retracement: If this is a pullback within a larger trend, an 80-pip bounce might align with Fibonacci levels (like 38.2% or 50%) from a prior move.
Support Level: The pair may have reached a strong support level where buyers saw value, creating a demand zone that halted the downtrend. Look at previous price action and identify historical support levels where price has rebounded in the past.
Oversold Conditions: Indicators like the RSI or Stochastic Oscillator could indicate oversold conditions, prompting buyers to step in as prices are deemed undervalued.
Fibonacci Retracement: If this is a pullback within a larger trend, an 80-pip bounce might align with Fibonacci levels (like 38.2% or 50%) from a prior move.
Trade closed: target reached
TRADE ENDED Trade closed: target reached
GBPCHF gave a second enttry for the low
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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.
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.