". There is a possibility of temporary retracement to the suggested support line (0.85499).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. EURGBP is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic...
Long EURGBP @ 0.86
EURGBP has bounced nicely off the 0% fibbo level (0.85390) which suggests that the low is in place for now. Im looking for a correction or retracement that will take us up to the 50% fibbo resistance or 0.88 level. GBP has been very strong of late however I think it has run out of steam up here and we are starting to see...
A downtrend is likely to reverse now as it is having multiple touches in downtrend and now it touched the weekly trend line and a strong bullish candle is formed in 1H time frame , put a buy limit few pips above the small 1H structure amd then be patient 🙌
Hey all! I hope your weekend was superb, now lets get back to making money!
We are going to execute a EURGBP long in the early Monday market open and the reasons are,
- GBP looks weak vs USD and other pairs (IMO)
- RSI is low and meets our entry cretaria (with the fibs)
- Price is at the 38.2 / 30 support zone and already rejected it ones
- The bearish trend is...
Price is below the 50EMA & the Daily Resistance Zone with so far alot of buying pressure coming in for all of the EUR pairs.
Reason For Entry- Double Bottom, followed by Engulfing Candle indication of the counter-trend opportunity to go long
TP- 43 PIPS✅
TP2- 86 PIPS✅
The 4hr time frame is indicating a move upwards after consolidation is complete, in regards to where the market price is currently at.
If the price goes above 0.90490 then it will confirm upwards movement and signalling a buy for this current pair.
Trading tip: Always insure your RRR is a minimum 2.1, Life's a bitch.. so always sleep with one eye open.
probably it could be insane to go against the pound strength (after the last week with an outstanding rally) but as usual i do my analysis without considering macroeconomics events are happening these days. And that's because we're traders, not analysts: here on the daily chart (left-hand side) you can see price has fallen and reached a key structure...
today i want to bring an harmonic pattern to you. It's a Gartley pattern and its completion will be around 0,84890.
Remeber to put your stop loss below X, targets at the 382 and 618 retracement of AD leg.
If you have any question, feel free to comment below.