I think I have missed this rebounce on a support. I hope in a second chance
possible rebounce on a structure with good RR
I have found this possible entry for a short in EURGBP. it is a pin bar that reject a static resistance, I see it also as a retracement of a downtrend. risk reward is good, 1,30 first take profit, 2,36 second take profit The only thing that jars is the divergence on CCI
After a clear 5 wave move to the down price is testing a key support zone. Typically after a 5 wave impulsive move we have a correction (Elliott wave) and that's what we are planning to trade. A very good reason to this is that in RSI we see a bullish divergence. Stoploss and profit targets as shown at the chart. As always i will enter this long trade with three...
Stop Loss should be set Slightly beyond the red trend line. Green circles are potential areas where you could Take Your Profits.
The Resistance/Support zone could bring us a good set up oportunity.
Gives a very nice long term target as well. (Flag)
On FX:EURGBP , we have a nice structure, there is a strong strendline. It is clear that, price respected that trendline many times, which is more likely that it will do again. Moreover, we can say that price is in downtrend, as mostly price makes Higher High and Higher Low. Also, there is a completed gartley pattern, which increase the probability of this...
Read the text written in the chart.
Earlier today, I posted a downwards channel. If we were to zoom in closer on a shorter time frame, you would see a triangle break lower pattern. This move is currently fundamentally driven based on the Greece budget meeting. This pair is currently worth watching in order to enter a short position once again.