Hey everyone
Here's a look at the EURO / POUND one choppy chart perfect opportunity for aggressive traders and intra-day traders hope everyone is good and you're having yourself a good one, now the EURO / POUND has had some nice volatility coming from all fundamental aspects but the structure was the and the pair was trading in a ascending channel which saw a...
EURGBP is bearish on higher timeframes.
We have broken through minor support and retested major support.
Since overall momentum is bearish, I thought of this idea for a short into the previous low.
~1:2.5 RRR
Daily move to support area is my aim to catch. Daily closed with a bearish engulfing and since then there are sellers entering the market.
4H - Head and Shoulder - Market is at a support zone which is why I am keeping an eye on this timeframe which could go against our Trade but...
But looking at 1H we can see that market is on a bearish run and rejected the...
I placed this trade with the team, we are hoping to target the prior highs.
The large gap and the change in structure will lure more sellers into the market but I will be fighting sentiment and targeting the liquidity at the highs.
The majority of retail will be looking at this pair and anticipating bullish trend conttinuation from the break and re-test of structure. I however will be looking for a sell position if we manage to cross-over structure as this would indicate to me that the push up was simply a liquidity grab.
There is Two Possible Scenarios on the Table. and Depend on the Brexit Negotiations each one is Possible.
So Stay Sharp. I myself put a Sell Stop at the suggested region.
tell me your idea about this pair.
price direction: DOWNTREND
potential target price: 0.9053
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can...
