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We opened a short position when the price dropped twice below the support, while the MACD remained in downside mode. 

GBPJPY H8 07 26 2022 1601SHORT

 

 We closed the short position when the price rejected the support at 159.79 and the candlestick closed in bullish mode. 

GBPJPY H8 08 02 2022 2330EXIT 177

 

 Trade accordingly with your risk

 

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