GBP/USD, double bottom pattern on the daily, RSI almost oversold, and candles are below the Bollinger Bands indicator. Thoughts? If im wrong, please tell me why, Im trying to improve.

One thought on “GBP/USD, double bottom pattern on the daily, RSI almost oversold, and candles are below the Bollinger Bands indicator. Thoughts? If im wrong, please tell me why, Im trying to improve.”

1. If this is a strategy that you’ve tested and are consistent with then you may possibly be wrong, and that’s okay. Trading is about probability, not about being right or wrong. If you follow your strategy perfectly you still might be wrong. As far as a technical analysis or price action standpoint, I personally wouldn’t trade against that downtrend. That most recent impulsive bearish leg has a lot of momentum going downward. Maybe wait for confirmation such as a pin bar or green candle. GL.

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