From the technical view:
1. From the daily point of view, price crated an impulse to the downside followed by a correction, we expect a new impulse to the downside to complete the ECW pattern.
From the fundamentals view:
1. Big players are bullish on both EUR and GBP in the short term. but compare with both, EUR is stronger than GBP from their perspectives. But we still expect EURGBP to move to the downside for the completion of the pattern we want to see from the daily perspectives.
How to approach EURGBP?
1. Overall the market environment is showing a bearish market on the 4h timeframe, but I can't share the rules to identify the environment.
2. But keep in mind, even the market is in bearish, but the price still sitting inside the support area, we need to wait for the current candle break below this support, then the support will become resistant.
3. If the price will break this support level, we can set the sell limit order:
Sell limit at 0.90200
TP: 0.89500
SL: 0.90431
RR: 1:3.03
4. Just short at the current price is not a good idea, because nobody wishes to sell at the support area. Be patience.
5. Make sure you follow risk and money management, always 1% risk on your account.
If you have any questions on it, please comment down below and let me know your questions.
1. From the daily point of view, price crated an impulse to the downside followed by a correction, we expect a new impulse to the downside to complete the ECW pattern.
From the fundamentals view:
1. Big players are bullish on both EUR and GBP in the short term. but compare with both, EUR is stronger than GBP from their perspectives. But we still expect EURGBP to move to the downside for the completion of the pattern we want to see from the daily perspectives.
How to approach EURGBP?
1. Overall the market environment is showing a bearish market on the 4h timeframe, but I can't share the rules to identify the environment.
2. But keep in mind, even the market is in bearish, but the price still sitting inside the support area, we need to wait for the current candle break below this support, then the support will become resistant.
3. If the price will break this support level, we can set the sell limit order:
Sell limit at 0.90200
TP: 0.89500
SL: 0.90431
RR: 1:3.03
4. Just short at the current price is not a good idea, because nobody wishes to sell at the support area. Be patience.
5. Make sure you follow risk and money management, always 1% risk on your account.
If you have any questions on it, please comment down below and let me know your questions.
Trade active:
Sell limit active with instant profit
Comment:
Running 32 pips, RF it now