As reported in my previous post on this pair this is now coming close to resistance. The blue line indicates the lowest point of the old support which was obviously broken and now should act as resistance. I want to see this reach this price and rebound lower to the next target. Need to wait for the price to show it is reacting to this level before entering a...
Like a lot of pairings at the moment this did not make a retrace and continued straight to the next support/resistance level. This touched the next TP price I had set but without the retrace I could not enter the trade.
Now the plan is to wait for a retrace as this is very overbought. A retrace to around 0.5 Fibonacci would be good but we need to see the rebound...
This hit my TP yesterday, I now want to see this retrace so we can enter another short. When viewing on the weekly and daily timeframes you will see this has been on a big drop without a retrace and we are now at a support level. This is why I feel it is a good time to secure profits and wait for a better position to short again that will take us past the support....
This is at a big support level. I previously posted that this was in a range from this support and the upper resistance. Now we are at this support we need to see if it can hold before rising or if it breaks and drops. It has had a lower closing candle on the 21 Jan so there may be big pressure. I would keep a close eye on this and if it does break the support and...
EUR/GBP is in a range, it has just reached the bottom of the range so is a good opportunity to go long from here with a SL just below the support level this is quite safe. Long term I think the GBP will be stronger so I am not sure whether this will reach the top of the range again, with this in mind keep an eye on this breaking the support level.
EURGBP LONG
EURGBP LONG
BUYING FROM 0.85561
TP 1 80PIPS
TP 2 160PIPS
TP 3 250PIPS
TP 4 420PIPS
TP 5 OPEN
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FX_IDC:EURGBP
I am trading on a small account, documenting my progress. This is not intended to be a signal!
Continuous Downtrend on D1
Retest of daily resistance of 0.382 fib level. Sellers took control, price has broke through minor H4 support, expecting further downside movement to H4 extended fib level 1.618 and our daily major support zone.
Sell at CMP...
