Phenlx
Long

First long positions at EUR/GBP

FX:EURGBP   Euro / British Pound
31 0 3
Following my analysis from Sunday (linked to this one) i am opening first positions in EUR/GBP             .
Reason for this is a low which is hitting structure and at the same time triggering the fib 61.8 of last upswing.

I know that it is a falling knife, but I entered on lower time frame M5 with a tight SL at 0.7144.
If downtrend will continue a small loss will be realized and I will re-enter only if a clear uptrend is visible on lower timeframe.


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Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading
Comment: While waiting for a reversal on H1 I would like to show a possible Long set up.
Falling Wedge pattern. Interesting to see is also that today´s candle might close with a daily doji candle. Let´s collect further probabilities to find the right long set up.

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