TradingView
OncleJer
Dec 6, 2016 9:20 PM

EURGBP showing signs of uptrend continuaton Long

Euro Fx/British PoundFXCM

Description

EURGBP is currently in a good zone to look for bullish evidences.
I will be searching for entry signs on smaller time frame and look to trade the pair up to the next resistance zone at around 0.86850.
Good luck!

Comment

Pair broke out nicely from correction channel, we are up around 90 pips so far.
Remember to secure profit people, play it safe!

Trade closed: stop reached

Stopped out trailing SL. Will look for other opportunities.

Comment

Got pulled out too fast, looks like it's going on well!

Comment

Almost there!

Comment

Wow!
Comments
Trader_Dale
Thanks for your great analysis and congratz to a nice profit!
Here is my view on EUR/GBP if you are interested:

Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see two main volume areas. The higher one was formed by cummulation of short trades that went into a strong sell-off. If the price comes there again there is high probability that the sellers will become active again.
Support around 0.8544 is very strong because it lies exactly at at a place where the heaviest volumes of the day were created. From this place the price shot higher indicating strong buyers in this area.
If trading those levels be extra carefull and dont trade during strong GBP news.

If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!
Dale
OncleJer
flabbergasted
More