EURGBP has been accumulating buyers for a long time now, it is a clear signal for a reversal to go back up the range. I won't open the trade today (Sunday) but will be looking for entries on Monday London Open.
Have a good day & a fun weekend, energized & balanced.
This is an update of one of my last post. We are now done with the correction and our last trade smashed target. Wave 1 of wave 5 is finished and we are now in correction. Highlighted region is our buy zone and where we would look for some bull confirmation. The bigger picture here is the end of wave 5 with the bat pattern to start a strong impulse down.
I believe that wave 3 just ended and we are in a ABC Running Flat Correction. Price needs to break first highlighted region for this trade to be valid. Waiting for market open & London open.
The second buy opportunity would be wave 3 of this last wave (5) that I'm posting. Medium-Term Target would be approx. 150.
Everything is written on the chart.
I am trading & traveling around the world. If you wish to follow my journey I journal all of it through instagram! My @ is the same as my tradingview.
Not the best idea to open a trade on Friday but I very much like the last h4 close. Therefor, I am short on EURUSD for the next week ahead. We see a clear broken trend-line with the price wanting to break the highlighted region. Waves are tight, SL is tight but it is going down
I am trading & traveling around the world. If you wish to follow my journey I journal...
Wave 3 just ended last week. With the bad NFP release I'm expecting some serious down movement from the pair to at least the 382 fib (4). Then we could look for some long signals to reach that 1.36 figure again. Overall trend is bullish so I don't see why we would go longterm short.
I am trading & traveling around the world. If you wish to follow my journey I...
The highlighted region on the left represents the end of wave 1. We see the ABCDE correction to accumulate sellers for another wave down. I believe wave 1 of wave 3 (the trade) will drop to the support zone, then retrace for more than 50% to drop again for wave 3 of wave 3. Interesting to see what comes up. Quiet week ahead of us. If you wish to position trade...
Price may push and spike down again.
The highlighted region will be hard to break, but I see it breaking this week.
Aggressive entry should asap, best entry would be at the clear break and close above the region.