Flag Pattern forming watch for break to the downside for targets at 38.20% 0.78663
shorting once again after a successful short on this pair earlier. - Broken trendline in 4hr time frame - Already partially retraced, ready to be sold. -RSI heading down - MACD cross over - Great R:R
B=%38.2 C=%61,8-%88.6 D=%161,8 XA=%88.6
Right here after the dust settles after the NFP numbers, we got this Cypher formation setting us up for a short on the EURGBP RSI is going over bought, but remember its a counter trend move on the lower timeframe perspective, so we only use one target if price get up there. Good luck and good weekend Kind Regards Thomas Jeff
PROS - Retest of strong support on monthly - Stoch RSI showing overbought on both monthly and daily - Slight bearish MACD divergence on daily chart - Head and shoulders pattern forming on both weekly and daily Waiting to break neckline at roughly 0.77500 before entering short. THOUGHTS? THUMBS UP IF YOU AGREE
look at the ab=CD pattern and the 0,618 levels are an exact match..plus the previous H&S would confirm that
EURGBP is about to brake the channel with a confirmation from RSI and MACD with a great R:R ratio. I will be shorting this after draghi's speech if the channel remains broken.
So we have had a double top on the 1 hr, the candles havent closed above the highest wick Came down and broken structure, seen the impulse leg up nearly to the 618 so it could push a little higher or we could see a retace from these levels
Past week EURGBP had a massive drop and is continuing to have a bearish outlook. Especially since the brexit is becoming more and more unlikely. Taking in this information, we can see that there could be a possible H&S pattern completed before another big drop. Stoch RSI currently indicates that EG is oversold at the moment and could see a retracement to ~0.5...
If the C to D leg completes will look to go short
We got a potential short setup here with minor trend on a Bat pattern. Entry at out PRZ level 0,80167 Stops and targets you can read from the chart. Remember setup is invalid if we break the C. leg Kind Regards Thomas Jeff
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EURGBP After two false breaks and a bearish divergence broke and retested the bottom TL. Sell market here targeting: T1 0.7960 T2 0.7890 SL 0.8120
EURGBP seems as though it can't break 0.81. could be a new downturn. .80275 confirms.
Im a new trader but here it goes!! On a Daily time frame it is on a Support level set in Sep 2014 Rsi Overbought as well and consolidation is occurring There is some Fibo Confluence on 1.618 from both legs! I believe it should drop from here!! Expected trade time 12 hrs Remember to trade your plan!!
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