A decent move could be cooking on EURGBP for upside, price action seems to have formed a contraction and with RSI at the over-sold area for a few days now we could see a move up to the 50 or 61% of the contraction.
There is a bigger than normal risk trading this asset (the GBP mainly) because of the upcoming important vote on Wednesday... of-course that could work for us or against us.
But being traders it is our duty to risk money for rewards, so there is nothing certain in our business... risk is something we thrive on and must accept before we can make a profit.
The reasons to buy on this one are:
1. Bullish reversal contraction forming
2. RSI in over-sold for days
4. Last 4H candle is bullish
There is a bigger than normal risk trading this asset (the GBP mainly) because of the upcoming important vote on Wednesday... of-course that could work for us or against us.
But being traders it is our duty to risk money for rewards, so there is nothing certain in our business... risk is something we thrive on and must accept before we can make a profit.
The reasons to buy on this one are:
1. Bullish reversal contraction forming
2. RSI in over-sold for days
4. Last 4H candle is bullish
Trade closed: target reached:
Chia-ching! :)