Anyone willing to do a long term trade on EURGPB, now is the time. small confirmation of a possible bull trap move. Been watching it for weeks now, didn't dare to really short it earlier because it simply didnt want to drop. Drew the blue line 2/3 weeks ago, assuming they might do a final shake out. Well, maybe this is it now. It should not get above the high anymore.
Break of the first green in the middle is a big step, break of the second green is the real confirmation. Now, for it to be real, doesnt mean a straight line drop, but it needs to happen relatively fast.
Don't forget to like if you appreciate this :)
Previous analysis:
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Perfect, broke the first important support level, so from this point on the trade is a free one and best case we can sit on it for weeks/months even. The second green support is the next one that needs to break, hope this week but prob next week. Ideally we stay below that 0.90ish from now, that would be perfect.
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Speed of the drop is also perfect now, as i described about how it should happen. So it looks very good now
Thanks for your updates! it would be appreciated if you can do more forex charts on your telegram channel as well,as I am still learning. Keep up the great work!
botje11
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@NishalR, I will try to do that, will do it more in the future when my website goes life and i can start to hire people to help me out. Hope it was helpful :)
jandittme
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Appreciate your post. I also saw the possible double top on the lower frames in combination with the long term resistance, and thought about entering a short. Seeing your analysis convinced me to open a position.
botje11
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@jandittme, Your welcome, not much room left for the bull trap version, needs to stay below that green zone. Above it, could simply mean its bullish.