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Gold_D_Roger
Jun 9, 2020 11:30 AM

Pretty safe Short with Large Profits: EURGBP Short

Euro Fx/British PoundFXCM

Description

Here we have an easy safe short with potentially large reward to risk ratio.

A head and shoulders formation can be seen nicely formed, with large rejection wicks in the H4 time frame, EURGBP seems to be preparin for a fall through the somewhat weakening support line @0.88808.
I see a standard fall to retest the support line, this can be a quick short scalp opportunity, following, watch for reaction to the support line, a breakout and close below it in the H1 would definitely signal a further downside towards next support level @ 0.88288 for a SHORT OPPORTUNITY.

MACD is heavy in the red, signalling a sell zone.

Best regards,
GOLD D ROGER
Comments
transparent-fx
this is what I will have marked up
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