Hi friends, sharing daily chart of Eurgbp as we can see it gives a breakout after a long consolidation in parallel channel, So my trading plan is to take fresh entry after a breakout retest and bounce from resistance even if it does resistance based target first, i assume that now resistance will work as support after this breakout.
Pattern and resistance based targets both marked on chart.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
Pattern and resistance based targets both marked on chart.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
Comment:
Price closed above on last swing top on weekly chart is a positive indication for it, we can see a good march towards mention target on chart
Comment:
As assumed price restest it's breakout levels
Marked a resistance for long trade in it if will close above i will go for a long trade in it and consider it is a bounce from mention retesting levels
Marked a resistance for long trade in it if will close above i will go for a long trade in it and consider it is a bounce from mention retesting levels
Comment:
Price makes a base near to channel resistance which turned into support now and holding strongly and do not want to leave that area, So i assume that this breakout retest is going good so far as expected soon we can see resistance target. Might we can see highest clsoing after retest or published breakout
