Price Weakness Leads To Profits

Tonight's trade is based on price weakness at a reasonably strong resistance level. Looking at the chart, we can see price had broken through the 1.4100 round number support which then turned it to resistance. Price then made a move back up to test 1.4100. This is where the market showed it's hand with a series of weak 5-min candles culminating with an inverted hammer on the 15-min chart at the London open. The trade was eventually closed for +62.

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