Hi,
As I shared in my previous analysis on EUR/GBP I am long-term buyer on this pair, but I see a short opportunity on this one based on 2 inside bars and strong false breakout at area where the initial sell has begun.
Even though, this setup is usually strong, I am looking for quick targets because of the strong upside movement before that and my overall idea of being a buyer until 0.9100.
I will leave this as an opprtunity for tomorrow's London session.
Good luck :)
As I shared in my previous analysis on EUR/GBP I am long-term buyer on this pair, but I see a short opportunity on this one based on 2 inside bars and strong false breakout at area where the initial sell has begun.
Even though, this setup is usually strong, I am looking for quick targets because of the strong upside movement before that and my overall idea of being a buyer until 0.9100.
I will leave this as an opprtunity for tomorrow's London session.
Good luck :)
Comment:
This is how I read the price action at H4 chart.
Comment:
Judging from the H4 it looks like we have a new lower low. The price is getting closer to the first target zone. I would close this trade manually in case the price goes back to 0.8930 and holds since this might turn into a range if we don't see a decent breach of this botm.
Comment:
The entry here was after the first discount and I got in around 0.8930 (before the spike). So, my choice for a SL was a little bit higher than the first main high rather than above the fake one.
I booked some profit at 0.8890
Next target 0.8870 and stops to zero.
The entry here was after the first discount and I got in around 0.8930 (before the spike). So, my choice for a SL was a little bit higher than the first main high rather than above the fake one.
I booked some profit at 0.8890
Next target 0.8870 and stops to zero.
Trade closed: target reached: