Here on the EUR/GBP we have 3 potential setups (Green, Blue, Red)
Both the Green and Red Patterns have a deep B leg retracement of the X -A move into the .618%.
Having a deep .618% retracement is hugely beneficial as the D leg completion at the 1.272% is now at structure, giving a very nice risk reward.
Bearish Green Pattern - D leg completion at .7220
Bearish Blue Pattern - D leg completion at .7130
Bullish Red Pattern - D leg completion at .6934
Targets & Stop Loss
- Stop Loss below X
- Target 1 at . ( Once Target 1 is achieved, half of position taken off and SL moved to break even )
- Target 2 at .
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