FullTimeTrader
Long

EURGBP-long term clear-short term tricky

FX:EURGBP   Euro / British Pound
599 4 17
Hello, im closely following this pair because it seems its ready to make a big reversal/correction.
Looking at M1 chart we see a perfect bat pattern already completed:


On W1 chart we have and AB=CD pattern + bullish divergence , showing that the bearish trend is finishing.


Here on D1 chart there is a nice triangle/wedge that appears to be completed.
We could have one more leg down also (scenario 2) in that case i will long again from those levels.

Right now the price is bouncing from the 0.700 level and forming a potential head and shoulders pattern.

Best regards.

*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).
We all are here to learn sharing ideas, have fun and improve our performance.


Nice one! Not sure why the € tanked accross the board 2day. You really think she'll go that high?
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Yes!, based on monthly analysis the bullish bat pattern is also working here. The third target near the trendline is achievable
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Marvin FullTimeTrader
Hmm. Ok I'll keep my eye on it and maybe buy on a pullback. I'm short GU as of an hour ago so don't want all my eggs....Cheers man. Good luck
Reply
Moving SL to BE and waiting for targets to be reached.............
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