FullTimeTrader
Long

EURGBP-could start a rally soon-big bat still in play

FX:EURGBP   Euro / British Pound
1185 8 27
The EUR is weak these days but according to this analysis this pair could start a rally very soon.
First, we have a monthly bullish bat still in play. Targets are not reached yet
Looking a D1 chart price is bouncing from my prefered EMA 55 and strong structure:
Here on H4 chart:

- AB=CD pattern (green)
- price bouncing from base channel (this channel usually is support for wave 4)
- perfect bullish butterfly visible better on H1 chart(see below)


Ideal SL and Targets are shown on chart.

Regards
1st target done and trade closed
Reply
Nice Chart Man !
Thank You !

Regards,
Julien
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i like your analysis ! keep it on
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Huge bat, I like the small bat+ab=cd.
Might be a good one.
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FullTimeTrader IvanLabrie
Im not trading the monthly chart, its just to remind that minimum target for the bat are not reached yet and we should consider that to find an entry point on lower timeframes. I remind this bullish butterfly on EURUSD i published some months ago, i see now hows targets are being reached, at that time seemed impossible, amazing even for me
Reply
IvanLabrie FullTimeTrader
Really nice.
It's a good idea to monitor these larger timeframe developments for sure.
Cheers!
Reply
Thanks for the charts
Reply
gud idea sir
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