Price is testing a key supply and demand level on the daily timeframe and has been moving correctively in a descending channel for a few weeks now. The market has now tested this area twice recently on the H4 timeframe and is showing signs of holding. If the market holds at this level, we could finally see a swing to the upside, breaking out of the descending...
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...
The video explains exactly why we are long on EURGBP this morning, but it also details our trading system and explains exactly how we trade.
The main point is that we only enter on the Fibonacci retracement, but we use it a little different than everyone else!
Anyway, enjoy the video... more posts coming later
Bouncing off a very strong support level/Demand level, Stochastics is turning bullish and suggesting a reversal.
However, we are in uncertain times with the outcome of the US election to still be determined thus anything can happen.
Potential for a long position on EURGBP over the next coming days
Schiff fork touches the edge of the channel, which is the same area where we have had prior bullish signals this year (see candles highlighted) thereby making this a likely area of reversal from the current downtrend that began around this time last month
If the price holds in this outlined area...
Bullish divergence in an uptrend at a support level...
If this pair doesnt fly to the moon then its just not meant to be, we are not in the trade just yet, i will send out the signal so make sure your following this page and all the revelant info at the bottom of this page!
Good luck, stay blue,
EURGBP has found substantial support just above the 0.91000 even-handle number. Price is ranging above the level and then Daily structure shows that the Bullish outlook on the pair is probable as the structure remains Bullish. We can expect EURGBP to find enough liquidity to retest June's High this year at around 0.91754. We can look to go Long if the 4H breaks...
If you have then talking about it is good as every loss should be seen as a lesson, as humans we are meant to learn from things that cause us great pain so we don't make the same mistakes again its a natural defence mechanism! The problem these day is people are getting mind fog from things the government deliberately put in foods and tap water sources.
A lot of...