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GBPUSD H4 trade - Correction

SAXO:GBPUSD   Sterlina / Dollaro
Mistake in GBP/USD - Black one was initial thoughts, blue one is corrected thoughts

Should have waited for daily candle to break below daily key level at 1.23965 before pullback since you have idenfied a key support level and NOT a confirmation break below your entry instead because it could just bounce and rally higher at the key support level

Sell limit is not yet valid UNTIL the break below the key daily support at 1.23965

Could spike to nearest 61.8% extension as well

Will try an entry on both setups again if it is valid
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