EURGBP: S-BAR Technical Analysis (Just My Thoughts) 07/18/2020
What's up people? Hope you all have/had a great weekend. This is NOT ADVICE - just what I see.
SITUATION:
D, 4H, 1H, & 15M in Uptrend
BACKGROUND:
Been in an uptrend for quite some time.
ASSESSMENT:
- Market Structure (zone - I like zones) HL - sitting at $0.90643 and $0.90574 & New HH sitting at $0.91349
- Retraced to 61.80% FIB Level AND potential ABCD Pattern forming
- Counter Trend Lines Up Nicely: Once Candle Cross Counter Trend-line, Looking To Enter after 1st Candle Closes Above Counter Trend Line
- Above 50 EMA
- Waiting for Price Action aka Candlesticks to tell the rest of the story to determine entering for a "BUY": Look for that SNIPER ENTRY (Buy Limit)
- Projected "Pull Back" to Fib Extension: -27.6%
- Projected PIPS: 50 - 60
RESULTS:
Pending
SITUATION:
D, 4H, 1H, & 15M in Uptrend
BACKGROUND:
Been in an uptrend for quite some time.
ASSESSMENT:
- Market Structure (zone - I like zones) HL - sitting at $0.90643 and $0.90574 & New HH sitting at $0.91349
- Retraced to 61.80% FIB Level AND potential ABCD Pattern forming
- Counter Trend Lines Up Nicely: Once Candle Cross Counter Trend-line, Looking To Enter after 1st Candle Closes Above Counter Trend Line
- Above 50 EMA
- Waiting for Price Action aka Candlesticks to tell the rest of the story to determine entering for a "BUY": Look for that SNIPER ENTRY (Buy Limit)
- Projected "Pull Back" to Fib Extension: -27.6%
- Projected PIPS: 50 - 60
RESULTS:
Pending
Trade closed: target reached:
Results: 44 Pips Gained (6 Pips Short of hitting 50 - which was my target)
TP @ $0.91461
TP @ $0.91461