Trading suggestion: . There is a possibility of temporary retracement to suggested support line (0.9035). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis: . EURGBP is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 56.
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Please read about the reversed direction on the website.
ForecastCity
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@bassmeister, Please note, as you may know from our website, in the trading strategy used on "intraday forecast", we set (SL) in the entry when we the price reaches to the TP1.
So, in this case, we reached TP1 and TP2. Two of the set orders are already closed with TP; the rest of them are closed in entry with zero loss.
Also, this trading strategy has double directions.
Please read about the reversed direction on the website.
bassmeister
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@ForecastCity, "Therefore, if it happens, you can enter in the reversed direction. This technique particularly is very useful in the days that the price is in or close to "entrance area" of our weekly forecasts and produces better entering for your trades which are in the "Trend Hunter Strategy"." - so basically we should have turned strategy, once the SL level is broken?
Intraday Forecasts' most important part is showing the market movement's strongest direction for the next 24 hours.
So the entry zone is not very important in Intraday Forecasts, and the traders themselves can decide whether to enter a trade or not, no matter if the price enters the entry zone or doesn't.
Traders should not use the intraday forecasts on its own. In Intraday, only those "intraday forecasts" in the same direction as DTO and Weekly forecasts are valid or have a high probability of success.
We recommend that traders start their trading using our long-term (weekly) or mid-term (DTO) forecasts because they have a high probability of success, and they are more profitable than short-term forecasts(intraday).
sofi_Morphy
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This is very nice and helpful. upvoted.
ForecastCity
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@sofi_Morphy, We're glad you liked it. Thank you for your comment