Risk 0.1% of capital for this entry!
Seems risky for this counter trend trade. But lets just try! haha
Viola
Entry: 0.83794
Stop Loss: 0.84418
Take Profit: 0.82014
Eurgbp is moving in this symetrical Triangle Range for a while and looks like it is gonna go down after breaking down from triangle.
Reasons To Short:
Triangle Pattern Acts As Trend Continuation Pattern
Moving Averages Are Wide Enough For Bears To Come Into The Market
Upper Rejection
Already Broke The Outer TrendLine
Trendline Slope Indicating Bearish...
A nice Bat finishing on the 1H of EURGBP, good entry opportunity @ candle signal reversal near X limit. RSI overbought favoring a short entry with ratgets @ .382 and .618 of AD range. Small SL, good TP ratios.
We see that on the daily time frame, we are in some form of bearish rotation and the trend is down. You'll also noticed a head and shoulder's pattern just formed as well.
We see some neat resistance level around the 79 even handle. Should price reach this level again, an entry reason such as a double top with some divergence would be a strong reason to enter on...
We have monthly pivot in 0.78 to 0.82 and short term channel in month;y chart.
you can entry in here or 0.7850 with sl 0.8150 or 0.82 and tp1 : 0.75 , tp 0.71.
dont forget money management .
I copied the following idea; and justify with my own strategy. PLS DO NOT FOLLOW IT BLINDLY!
Price below the upper trend line of the channel.
.382 retracement of down AB Swing
StochRSI Over sold
BEARISH TWEEZERS TOP
Here on the EURGBP we got a short opportunity at the 0,76300 even handle number on a Bat formation going for a continuation of trend. Remember we are hitting a lot of news so check your trade plan before engaging on anything you don´t normally do.
Kind Regards
Thomas Jeff
