FX.co ★ dusty24 | GBP/USD

On D1, on the upward movement chart, the "5 points 2 targets" trading system is in play. The price has already reached the 1st target = 1.3530, broke above it, setting a high = 1.3556 and, according to the rules of this system, the price bounced down into the range between the first targets = 1.3530 - 1.3340 and is now being traded within this range. The system works on the D1 timeframe, and here everything takes a long time, each candle is a full day, so you need to plan your work taking this timeframe into account. After the end of this range trading, the price will go up again to reach the 2nd target above at the level of = 1.3650. This is the scenario for the majority of cases when this system plays out. There is also the opposite scenario, it happens less often, but it does happen, when the range trading leads to reaching the 1st target below, then the rules of this system are also fulfilled and closed out. I don’t know how it will be this time, but I expect the successful development of the 1st scenario.