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
FX_IDC:EURGBP Safe Trades; open.spotify.com ;) ;)
I have already posted the 4h chart for this pair but it even looks better on weekly trade for all you long term traders. we are looking at a lot of potential pips here, its a great moment now to catch the falling knife. - Trendline broken - RSI starting to head south - take a look at that beautiful MACD formation too.
Analysing EUR/GBP on a monthly chart it is in a down trend. Having just hit the top of the trend line, this is also a 61% fib retrace from points ABC. You could now expect a continuation to my targets of T1= 0.69167 and if we manage to get beyond this we could be looking at T2= 0.64303.
Head and shoulder pattern. Just crossing the neckline
Looking for a retest into 0.78657'ish before selling, this looks like it could easily fall to 0.74-0.73 maybe even 0.72. I will be monitoring the retest on 15-30 minute charts as well. Good luck on this one!
Flag Pattern forming watch for break to the downside for targets at 38.20% 0.78663
shorting once again after a successful short on this pair earlier. - Broken trendline in 4hr time frame - Already partially retraced, ready to be sold. -RSI heading down - MACD cross over - Great R:R
B=%38.2 C=%61,8-%88.6 D=%161,8 XA=%88.6
Right here after the dust settles after the NFP numbers, we got this Cypher formation setting us up for a short on the EURGBP RSI is going over bought, but remember its a counter trend move on the lower timeframe perspective, so we only use one target if price get up there. Good luck and good weekend Kind Regards Thomas Jeff
PROS - Retest of strong support on monthly - Stoch RSI showing overbought on both monthly and daily - Slight bearish MACD divergence on daily chart - Head and shoulders pattern forming on both weekly and daily Waiting to break neckline at roughly 0.77500 before entering short. THOUGHTS? THUMBS UP IF YOU AGREE
look at the ab=CD pattern and the 0,618 levels are an exact match..plus the previous H&S would confirm that
EURGBP is about to brake the channel with a confirmation from RSI and MACD with a great R:R ratio. I will be shorting this after draghi's speech if the channel remains broken.
So we have had a double top on the 1 hr, the candles havent closed above the highest wick Came down and broken structure, seen the impulse leg up nearly to the 618 so it could push a little higher or we could see a retace from these levels
Past week EURGBP had a massive drop and is continuing to have a bearish outlook. Especially since the brexit is becoming more and more unlikely. Taking in this information, we can see that there could be a possible H&S pattern completed before another big drop. Stoch RSI currently indicates that EG is oversold at the moment and could see a retracement to ~0.5...
If the C to D leg completes will look to go short