I was expecting this pair to breakout, but then I missed my entry. This made me upset and did some further analysis, that was the moment when I saw this breakout is a false one. Because of the bearish divergence on the 4h TF and the resistance is met in fibonacci Pivots.
When I saw this i zoomed out to the bigger picture, daily and weekly.
Daily showed me this divergence is not confirmed yet, but this will folllow soon.
Weekly is showing me we are trading in a channel since the beginning in 1994. The upper band is hit twice, but the lower only once. I don't consider the double hit in the same year as two separate ones, because of this big timeframe.
That is when I realised that you never miss a chance! I missed a small long, but will enter a great short untill the bottom of the channel is hit. From there I will be a buyer of this pair, no coincidence with the GREXIT on the agenda this year...
Thumbs up if you like my view and if you disagree let me know why :)
When I saw this i zoomed out to the bigger picture, daily and weekly.
Daily showed me this divergence is not confirmed yet, but this will folllow soon.
Weekly is showing me we are trading in a channel since the beginning in 1994. The upper band is hit twice, but the lower only once. I don't consider the double hit in the same year as two separate ones, because of this big timeframe.
That is when I realised that you never miss a chance! I missed a small long, but will enter a great short untill the bottom of the channel is hit. From there I will be a buyer of this pair, no coincidence with the GREXIT on the agenda this year...
Thumbs up if you like my view and if you disagree let me know why :)