Get started
austinlmkc

GBP/EUR - Overall Downtrend

Short
British Pound / Euro (FX_IDC:GBPEUR)  
austinlmkc Updated   
FX_IDC:GBPEUR   British Pound / Euro
Trend Analysis Chart Patterns Beyond Technical Analysis marketstructure Double Top entrypoint retest breakouttrading signals levels priceaction
2
0
trendanalysis chartpattern beyondta marketstructure doubletop entrypoint retest breakouttrading signals levels priceaction
GBP/EUR is in an overall downtrend. Double top setup is in place. Price has retested neckline. Now price will probably consolidate considering that it is now hitting a key level. Ideal move: Price breaks key level and falls to the downside. I think the probability of price going to the upside is about 25% and price to the downside is about 75%.

Trading Journal #5

- Austin S.
Comment:
Price has broken a key level. Be on the lookout for sell opportunities.
Comment:
I think the bulls will push price back up to the key level and meet strong bearish resistance. There is a high probability that price will hover at the key level and then head down to the next zone of bullish support.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.