i made my view on short tieme chart setup idea for next week
we can see eurgbo keep is support .
and after make a breakout of 1h chanel
then after make a small range and breakout again
but that i seen is the wedge on RSI and i think we have to wait a breakout of the rsi wedge for see a real next move
Both eur and Gbp have polical problem
one is brexit...
on a daily chart i see a bullish rsi divergence
eurgbp keep is strong support at 0.8750
the german cpi was good enough for support the eurusd thzn i think he will stay strong enough same as gbpusd who is strong too
but i enter on this trade for eurgbp that keep strong support for 2-3day + the daily rsi bullish divergence so i play the rebound
*my target is 0.8662...
Pending Long @ 0.9050
Stop Loss @ 0.8990
Target @ 0.9200
RR Ratio @ 2.5
Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
We have a bullish Gartley setting up on the EURGBP with an entry that aligns with previous structure.
There is nothing bullish about the Pound, and if Mario Draghi fails to specifically address the exchange rate/detailed monetary policy again tonight then we should see further upside to this pair.
All the best,
Mase.
We have a lot of EUR news due out tomorrow together with a speech from Mario Draghi, the President of the European Central Bank.
His comments alone will move the market and we are hoping for an alignment with the PMI data due out later on in the morning. This will give us a great trading opportunity on the EUR throughout the rest of the week.
We are planning a...
Price consolidating inside parallel channel up and new uptrend line. If price keeps its move and follows this new trendline, an important resistance since 1995 at 0.9038 is really close.
After forming a fakey bar on the daily time frame, this Forex pair took me out of my trade just to have another price rejection in which I did re-enter again a long trade. For four trading days, this pair has been going on sideways which was slightly tempting me to close the trade at Breakeven,.. not closing it was a good decision. Plus I also noticed the inside...
Our preference: sales position below 0,8960 with targets at 0,8900 & 0,8865 in extension.
Alternative scenario: in excess of 0.8960, aim for a continuation of the increase with 0.8995 & 0.9035 in line of sight.
Comment: The RSI is misdirected.
Our preference: sales position below 0,8995 with targets at 0,8900 & 0,8865 in extension.
Alternative scenario: in excess of 0.8995, aim for a continuation of the rise with 0.9035 & 0.9080 in line of sight.
Comment: The RSI is misdirected.
Our preference: position bought above 0.8815 with targets at 0.8875 & 0.8900 in extension.
Alternative scenario: in break of 0.8815, a continuation of the decrease will be envisageable with 0.8780 & 0.8760 in line of sight.
Comment: The RSI is losing its bearish momentum.
Our preference: sales position below 0.8845 with targets at 0.8815 & 0.8800 in extension.
Alternative Scenario: In excess of 0.8845, aim for a continuation of the increase with 0.8860 & 0.8880 in line of sight.
Comment: the support sinking at 0.8845 triggered a bearish acceleration on the support at 0.8800.
Our preference: position bought above 0.8830 with targets at 0.8860 & 0.8880 in extension.
Alternative scenario: in break of 0.8830, a continuation of the decrease will be envisageable with 0.8815 & 0.8800 in line of sight.
Comment: A support base of 0.8830 was formed and allowed temporary stabilization
Suddenly found this nice long setup. Everything is looking almost perfect. Just a small retracement/pull-back needed. So, wait for the entry, don't rush. Patient will prevent you from getting hurt.
My Facebook Page: web.facebook.com
Our preference: sales position below 0.8815 with targets at 0.8715 & 0.8675 in extension.
Alternative scenario: in excess of 0.8815, aim for a continuation of the increase with 0.8835 & 0.8870 in line of sight.
Comment: The RSI is misdirected.
