Hi guys,
after a week of relax, i'm back to the charts today (it's good to take some rest from time to time). As usual i look for important level of structure and then i lower my timeframe in search for a reversal pattern. In this case on EURGBP we're up to a previous daily structure, and right there price has created a nice engulfing kicker that makes me think we're heading down. I don't care if it was generated after a news release, or announcement, i care only about the chart and it's telling me bears came in and are pushing downward. Being the case, i've set my limit order and i'm waiting to see if it gets triggered, with stops above highs and targets as displayed.
If you have any question/doubt, feel free to comment below.
Otherwise, see you in the next chart!
after a week of relax, i'm back to the charts today (it's good to take some rest from time to time). As usual i look for important level of structure and then i lower my timeframe in search for a reversal pattern. In this case on EURGBP we're up to a previous daily structure, and right there price has created a nice engulfing kicker that makes me think we're heading down. I don't care if it was generated after a news release, or announcement, i care only about the chart and it's telling me bears came in and are pushing downward. Being the case, i've set my limit order and i'm waiting to see if it gets triggered, with stops above highs and targets as displayed.
If you have any question/doubt, feel free to comment below.
Otherwise, see you in the next chart!
Comment:
Entry postponed to the opening, let's see the gap
Trade active
Trade closed: stop reached