Previous week, the pair completed a Bearish Gartley Pattern
Currently forming a smaller Bearish Bat Pattern
Looking to take a short when the price tests the Gartley PRZ and completes the smaller Bat Pattern
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
On the EUR.GBP 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between .8519 & .8577
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement...
A n inverted head and shoulders pattern seems to be forming on the 1D chart. The left shoulder has been completed and the head is currently being formed, over the short term period, we should see this pair climbing up to the neckline of the pattern. Then if it is a head and shoulders pattern we would see the right shoulder start to form. I will be updating this...
The market formed a diamond chart pattern. Even it's not a perfect one, it can be used for trading. We have the price at the support level, the breakout above the downtrend line and new swing low higher than the previous one. The market can move upward even we have the bearish trend. If the price can break the upper line of the diamond pattern and move above the...
EURGBP has been accumulating buyers for a long time now, it is a clear signal for a reversal to go back up the range. I won't open the trade today (Sunday) but will be looking for entries on Monday London Open.
Have a good day & a fun weekend, energized & balanced.
Now is a good time for a quick chart update ahead of the BOE and Brexit countdown.
PM May playing politics with a "Queens Gambit"….by asking for the short-extension till the end of June she is trying to force MPs hands to vote for her deal... Options from the EU are still either for (short) Mid-May or (long) lasting into 2020. The risk scenario which will send...