GBP rising upwards off The Quarterly lows @ 1.9504...Nice rotation trade off those lows using 1.9504 (didn't trade it, had to go out to dinner)
But an entry and partial exit would have stopped you out on the first trade, but once back above 1.9504 and a 2nd trade would be in the money using support...
"You trade down into support, and you trade up from support..
You trade up into resistance, and you trade down from resistance....
Quarterly support 1.9504 price travels from the middle outwards, and rotates back inwards...
Next Week starts a new weekly timeframe, and we repeat the process:- trade UP and Down from channel extremes along with using the 5-day 50% level.."
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