Stop Hit Pattern | Live Forex Trade | EURGBP | 1 Hour Chart

By | February 4, 2016

see attached video – This video was originally posted on July 3, 2014. Looking at the EURGBP stop hit pattern on the 1 hour time-frame. This is a fantastic example of a stop hit at support. A really nice bullish spike formed at support after a stall in the market created a hot spot for entry orders to flood the market. This long stall created ample time for plenty of buy orders to be established thereby creating a plethora of stop loss orders sitting just under support. Remember that a stop loss order on a buy entry is a sell order. This certainly begs the question, just who are they selling to? The answer to that question is “the banks”.  The banks are buying, this what drives the price to the upside.  In conclusion, It just missed our stop loss by a few pips then turned around and tapped the take profit target by a few pips…..

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