The first target: the middle of the channel The second target: the top of the channel
Price at a strong demand zone with a clear bullish pattern, we looking to the upside.
➡️ The EURGBP currency pair will most likely continue its downward path. Fundamentally, the Pound is supported by expectations of a rise in interest rates, prices in the UK are rising and people are more willing to spend. One of the reasons the key rate is still at its lowest is because of the risk to the labor market. The rate hike will lead to a rise in the cost...
#simplepriceaction, #MSB, #expansion, #order block, #reversal, #risk-reward, #money management .... only for practice
#simplepriceaction, #MSB, #expansion, #order block, #reversal, #risk-reward, #money management .... only for practice
> Price below the cloud > Price below baseline and 200EMA > ADX showing short > QQE showing short
Daily Sell stop liquidity taken which is an institutional level, then another minor sell stop taken in 1hr which confirms we should expect a bullish move. However, a w pattern was created in the 15mins time frame which broke structure and retested the 15mins Orderblock and confirmed the long setup
It is expected that the price will move up to the specified resistance level while maintaining the specified support range, and then a correction will be formed in the trend, and the continuation of the trend needs to be re-examined.
Waiting for a break of the trendline for a sell position towards the intended target.
In this video I'm describing my short-mid term buy idea for this pair
I think what most traders missed this week about the EURGBP is that the pair actually challenged a slight descending channel support as we hit a new trend low. Daily RSI was divergent suggesting we would bounce and not that we are back above the .8400 level, the risk is for a bounce. From here, a move back above the .8465 level would suggest a move back above the...
The euro has been grinding lower against the pound for more than a year now, with much of 2021 spent within a shallow descending channel. But with the two central banks likely to see some divergence in monetary policy over the next 12-18 months, could we finally see the pair break out of this long-standing trend? The BoE bottled the rate hike at its November...
From harmonic scanner. Going to the Golden zone of fib.
strong pullback to resistance for a retest wait for a violation a close back below
Technical view on the market, which isn't an invitation to buy or sell, But only for learning purposes and sharing my thoughts. Attention : Always use a proper risk management in trading. Be safe and trade responsibly Do not forget to FOLLOW me so you don't miss the upcoming analysis ✅
Date 18/11/2021 @ 4pm Malaysia Time (Euro Open) EURGBP LONG @ 0.83800 SL 0.83400 TP 0.84600 Period 3 to 5 days TAYOR - Gd Luck