EURGBP ... Possible Head & Shoulders???
This has the potential to be a beautiful Trade.
Here are my Confluences:
Confluence 1 - H&S
Confluence 2 - 4hr 50EMA.
Confluence 3 - Equal Movements on H&S
Confluence 4 - Rejection at the 38.20% FIB
For a more exact execution scale down to the 1hr/15 min looking for that rejection in our target area and then look for the taps using the first as a bench mark for stops.
I have 40 pips as a stop/loss on this - if the trade is right it should react beautifully.
This has the potential to be a beautiful Trade.
Here are my Confluences:
Confluence 1 - H&S
Confluence 2 - 4hr 50EMA.
Confluence 3 - Equal Movements on H&S
Confluence 4 - Rejection at the 38.20% FIB
For a more exact execution scale down to the 1hr/15 min looking for that rejection in our target area and then look for the taps using the first as a bench mark for stops.
I have 40 pips as a stop/loss on this - if the trade is right it should react beautifully.