I’ve had a nice run trading the range here. My last trade stopped out just before the market close marks the break out move. Instead of comparing the Euro against the Dollar, I’m doing it against the Sterling and it looks like I won’t be giving this currency a bearish sentiment much longer. I would not go full bullish on the Euro, but rather reduce my bearish...
On FX:EURGBP we have very nice opportunities both for long and short.
It is clear that market is moving in the channel.
1. Long setup: targets should be somewhere in "Bullish Target Zone" - green rectangle
2. Short setup: targets should be at the structure support @0.7241
Watch market carefully and decide on which side you are, Bullish or Bearish.
Great Opportunity on EUR/GBP. Very high probability trade.
Price is in consolidation zone zone, where there is a support at 0.7262.
Bat pattern appears, with an amazing risk/reward.
T1 - 38.2%
T2 - 61. 8%
Note: Avoid trades on high impact news. NFP coming today.
This is an old chart. And while learning I have lines all over the place. It's a mess, although the information I wanted to relay is there behind all the lines. This is the monthly chart. Most will not bother looking at this time frame.
Put it this way, If your have a probable destination, chances are you have a probable destinations along the way to your final...
If it Rejects On this Lower Trendline
By Closing Above This
Trendline i am gonna long here with take profits@ upper flag
2nd condition
If market rejects the upper trendline then
i am gonna short with take profits@ lower flag
