Most traders don't listen to the market.
They always follow others' opinion in forums or constantly look for trading signal services.
Every day, I will receive at least one query asking about my prediction on certain currency pairs or if I provide signal services.
While declining them, I'm also trying to understand their thought process.
"Why would they put...
There is a great setup for a new trend in the EURGBP pair based on analysis using Gann and Gartley:
1. Bullish Shark Pattern
2. Bullish Alt. Bat Pattern
3. 90-day inner year Gann cycle.
4. 180-day inner year Gann cycle.
5. New Moon on the 6th.
One way to determine the strength of a currency is to add 2 moving averages to the charts, one set to 5 and one set to 12. If both the 5 MA and the 12 MA is pointing upwards, that means +1 and vice versa if both of the MA:s are pointing downwards. If they are pointing against each other, different direction or are flat lined, thats equals 0 as we are most likely...
EURO is a weak as a whole, especially to USD, CAD, JPY, and GBP.
Euro Pairs being monitored:
EURAUD , EURCAD , EURCHF , EURGBP , EURJPY , EURUSD
1H - 2D
EURUSD: Bearish (Red) across most Time Frames
EURCAD: Bearish (Red) on most Time Frames, Green on 1H, 85m, and White on 22H - wandering
EURGBP: Keep on range, Bearish Divergence / Resistance on...
*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.
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.
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...
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