-MONTHLY RESISTANCE ACTING AS RESISTANCE
-FIRST DAILY BEARISH CLOSURE AFTER 15DAYS (3WEEKS)
-WEEKLY SPINNING TOP CLOSURE (SLOW DOWN OF MOMENTUM)
-FIBONACCI RETRACEMENT LEVELS TO BE MET
-TRENDLINE TOUCH, REJECTING A BREAK ABOVE
Our previous idea on EURGBP sell is now closed +5 pips as the market now looks very bullish and will more than likely break out. When the market turns and goes against an idea and gives you lemons, reverse your position and make some juice.
Here we have a nice opportunity to sell the breakout of the ascending support.
Price has found resistance at the .618 Fib level and resistance looking left.
Target will be the .382 retracement of the most recent bullish impulse leg + structure
Today, we'll be looking at a currently very political currency pair: the EURGBP. Over the last few days, uncertainties surrounding Brexit talks and obvious distrust in both prime minister May, and the opposing Labour Party, resulted in the EUR/GBP moving upwards for 14 trading days in a row after finding support at the current yearly lows around 0.8470.
( Day Trade )
Shorting EURGBP at 0.8828 with a Sell Stop Order
Risk : Reward
1 : 3
30 pips loss : 90 pips gain
Don't Follow if you don't know how to manage your risk according to your account Equity!
Happy Trading :)
Has been in a major uptrend and has hit a resistance and now there is a triple top forming. Great RR. The price will likely hit the green target but i like to get out of positions and not be too greedy therefore will get out at TP1 may re-enter if theres a breakthrough and retest.
In regards to my last 6 ideas. 3 are going very well. GBPJPY (4) buy was bad and...
EURBGP makes history, easy short
I’ve went back to 2000 and looked for any periods of time where the EURGBP has had more than 12 consecutive daily candlesticks where the Open was greater than the Close. Never. In fact, the most I found was 7. So this is a pretty extended move in time. And it’s a straight up parabolic rise as well. This is very much what Gann would...
EURGBP has recently had 13 bullish days in a row with the downfall in GBP.
However, the price has now stalled at the key highs here and with GBPUSD being
over-extended we could see a sharp pullback. Currently, the daily candle is bearish
and if we see a bearish close we can look for short-term trading back to the support.
Right now is EURGBP in nice trend up...
However the market not give to us change take long trade on near volume cluster...
For that reason nice single confirmed with volume cluster is around 0.868 for long trade.