EURGBP SHOR T
Have broken out of support
Can see the zones for major moving areas within this market
Im in for shorts
Move Stoploss to entry price once we hit 25 pips +
Following the Head and shoulders pattern break down, and perfectly respecting the slanted neckline, we have since seen further continuation to the downside.
Right now, we are seeing what I call a complex pullback which can be used to build a high probability entry zone.
First we have the Level of historic structure that has been respected more often than its...
If you can not see how strong the support at 0.87310 is then you should really go away and learn some more.
We are looking for price to re test this price and bounce, we can see a good level of resistance at 0.89282 which again may act act as a wall and bounce, but we will keep a close eye on this pairing if it did try and test this resistance level.
To sum it...
We will keep this 1 short and sweet.... We are short to our trendline then long for that..... is that simple enough for you? Got that... or do you need us to wipe your arse as well? ;p
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
We have reached a strong demand zone where we could expect price to push back up. i have put a SL of 40 pips to give price some room to push down a little before a major push up.
I dont see anything currently bullish about this pair right now. After the most recent impulse down i see we have come up and re tested as a double top formation. swing high to swing low we retested at the 50% fib retracement also. The last daily candle would of been more convincing if it was more of a "bearish engulfing" set up but its still the biggest daily...
Pending H/S completion.
Hourly chart - No strong uptrend
Failure to break and close above the resistance zone will wait for a pullback downwards.
Target 2: 0.86900
Just started learning to trade forex and hoping to get some feedback weather i am using the outer/inner TL's appropriately. Any feed back would be great.
I am predicting there will be a third bounce off the upper TL and will be looking to short the coming week.
- Price to retest downtrend and break through purple monthly zone.
- Price to retest the same purple monthly zone as a resistance level
- Waiting for price action confirmation e.g. a bearish engulfing candle close on the 4hr TF, before entering short
- Price to make its way down to lower purple monthly zone.
The Euro vs. the British Pound. This pair represent a cross between the two largest economies in Europe, the Euro Zone and the Unites Kingdom. The pair is greatly less volatile than other Euro or Pound based crosses because of the economic closeness and interdependence between the two. Changes in monetary policy between the Bank of England and the European Central Bank can make this pair extremely sensitive.
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