JLJ002500

EURGBP - W, D, & 4H analysis - Bullish Advance Pattern

FX:EURGBP   Euro Fx/British Pound
22 0 0
Previously I posted about the Bat formation on the WKLY chart that completed the week of 7/13/15. (See Below) TP1 has not yet been reached.

snapshot

snapshot
The above WKLY chart shows the recent resistance hold ~.7755 and is currently retracing. Momentum is still to the upside and substantial strong support starting ~.7495. With that being said, there still could be plenty of retracing to do.

The Daily chart shows the retracement. It is currently at a weak support zone . First strong support zone is .7495-.7483. We could see a bounce and a good long opportunity (short time frame).

snapshot
4H chart above shows the recent Bull Gartley completion. (TP2 was just missed). I did not enter a trade because I didn't like the risk/reward ratio.

4H also shows a potential Bull Butterfly formation. The PRZ also sits at a much stronger support area and it has a more favorable risk/reward should the formation occur.

Unless the weak support zone continues to hold, I'm waiting for further retracement & bullish PA at strong support before completely committing to a long position.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out