Double Top at Structure on EURGBP! May fill the gap?
Hey guys,
the gap we were expecting was very big (especially with euro and yen pairs) but remember that gaps tend to be filled afterwards. So, if this alligns with my structure analysis i think the opportunity is good. The yellow box you see above represents a previous level of structure that acted as support and now could turn into resistance.
As we go on lower timeframe such as 1hr price has formed a nice double top with RSI divergence.
I'm waiting to see a pullback in order to get a better risk to reward ratio with the first target at the retest of the lows. Second target could go at the close of the gap, or at structure (0,840).
If you want to share your view, or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
the gap we were expecting was very big (especially with euro and yen pairs) but remember that gaps tend to be filled afterwards. So, if this alligns with my structure analysis i think the opportunity is good. The yellow box you see above represents a previous level of structure that acted as support and now could turn into resistance.
As we go on lower timeframe such as 1hr price has formed a nice double top with RSI divergence.
I'm waiting to see a pullback in order to get a better risk to reward ratio with the first target at the retest of the lows. Second target could go at the close of the gap, or at structure (0,840).
If you want to share your view, or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: stop reached