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I am sure you guys must have noticed that the pound dropped about 90 pips shortly after I placed my thread reply that it would drop like a bat out of hell.
The key to the reversal is nothing other than candle reversal recognition. The reversal bar which halted the rise of the pound at 1.9410 was the key. the bar opened and closed outside the bollinger bands. At the same time my oscillator was in extreme overbought area. The high of the same bar was later tested when the pound formed a double top. and next thing it dropped away. the fall was accelerated when it dropped below the previous days's high.
TC
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