moorekapital

EURGBP: BEARISHNESS CONTINUATION....???

FX:EURGBP   Euro Fx/British Pound
94 11 5
Following the fantastic sell climax and the inner trend line breakout, I started anticipating a reversal bullish . But I also expected some trading range prior to any major trend reversal.

Would the bearishness continue......???

With price still below 50EMA, I want to see any possible rally from here as a pullback to testing breakout point of trading range or 50EMA.
Price is also seen below 0.70000. A pullback to testing this big number would be in order.

I'm sitting on my hands until then.


What kind of price projection is that one?
Reply
moorekapital IvanLabrie
Measured Move(MM), using the last leg down which broke the trading range. MM can be anything;), You'll find that price retraced to the 50EMA (inside the trading range) , and then continues to stay below the trading range.
Reply
IvanLabrie PRO moorekapital
A bit too arbitrary for my taste.
We'll see, for now, I'm bullish EURGBP.
Reply
moorekapital moorekapital
Iff this breakout of the trading range is valid, I could also do a MM based on the averaged height of the trading range, and that will be a bit lower than current projection.
snapshot
Reply
moorekapital moorekapital
Yet One More MM Based On The Leg Down prior to the trading range. (Spike Down + Trading Range = Trend Resumption)
snapshot
Reply
moorekapital moorekapital
Wrong Insertion.
This one rather

Yet One More MM Based On The Leg Down prior to the trading range. (Spike Down + Trading Range = Trend Resumption)
snapshot
Reply
moorekapital moorekapital
lol
charts closed or internet connection....?

I'll post correct chart when the connection is back.
Reply
moorekapital moorekapital
Hope this chart is the right one.
snapshot
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moorekapital moorekapital
There must be a feature to delete wrong insertions in future
Reply
See how this Measured Move Also worked out. It was based on a leg down prior to the trading range

Observe how price pulled off sharply = Profit taking @ MM
snapshot
Reply
IvanLabrie PRO moorekapital
I don't subscribe to that.
Reply
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