Last week price rallied to major resistance and, again, gave a sharp rejection. This week, so far, we have retested support from the supportive price area (green line) and the weekly 55EMA. Price is once again stuck within these ranging levels (between the red and green lines).
I am bullish on this pair BUT I am staying out of this market until a Brexit deal is...
Short Sell position on EURGBP when market opens, expect long shadows so plenty of room for margins.
Entry Price : 0.88236
Stop Loss: 0.88394
Take Profit : 0.88030
Continuing the trend lines, this position will provide a strong profit as long as risk management is taken into consideration.
Will update once position is closed.
This pair has been on an uptrend since mid april-may from the 0.893000 region which is a strong weekly support.
It has respected an ascending trendline that I drew twice. I'm expecting it to return to this trend line once again. Wether it will break or bounce from this time will tell.
However, for now I can see some potential shorting opportunites.
Here is a...
My Trendline has proven to hold price well however price could be making a bearish movement breaking through. The 3 major Yen pairs are also showing similar movement which is giving me more confirmation on this pair. I am now waiting on the 4hr candlestick to close below my trendline to confirm the break for a downside target of 121.200.
Bullish on higher highs and lows, strong support found at .382 fib level. Buying opportunities between the lower trend-line, and .382 fib level.
SL at .8150, given the likely volatility associated with the French election (23rd) and the continuing uncertainty surrounding Brexit.
TP at .9000
The top of the bearish channel is a good opportunity for a short position. This type of trade gives a good risk/reward ratio, stops should be placed outside of the channel. It is key that stops still allow price to move above the trendline and not be too close to the trendline, therefore the 0.85570 zone is a nice level for this. Targets could be the bottom of the...
Very strong movements from the get go today, been watching the movements since 22nd Sept.
Decided to jump in with small lots.
Currently learning to chart, so excuse errors - learning the basics of ABCD and support/Resistance.