Long Trade For Monday: EUR GBP Long. Please read below.
Updated
https://www.tradingview.com/x/xvD6GiUs/
The EUR / GBP is parked very bullishly on W/Bottoms on the higher timeframes but their also exists a bullish H"S" Pattern on the 2HR timeframe. This pattern had already retested the Neckline.
High timeframe RSI & Stochastic's are also very bullish to bring the EURO out of Ovesold territory and rally hard agains the Pound.
I will buy the breakout of the trendline in the chart attached.
Cheers,
easy_explosive_trader.
The EUR / GBP is parked very bullishly on W/Bottoms on the higher timeframes but their also exists a bullish H"S" Pattern on the 2HR timeframe. This pattern had already retested the Neckline.
High timeframe RSI & Stochastic's are also very bullish to bring the EURO out of Ovesold territory and rally hard agains the Pound.
I will buy the breakout of the trendline in the chart attached.
Cheers,
easy_explosive_trader.
Note
On Friday, despite the market sell-off, The Euro against the Pound took out the previous Day high and closed Friday in a strong position.Trade active
What i also like about this trade:
* If we cast our minds back to Friday, at one point the Vix Index was very close to 15% up on the day.
* Gold, silver, stocks all sold off in time during Friday & did not really recover.
Now, the price-action for EUR/GBP was actually bullish. EUR/GBP took out Thursdays high & price finished in a strong position. One moment I will check the weekly & Friday percentage numbers.
Trade active
EUR/GBP was up 0.15% on Friday & finished week up about 0.39%. Not bad for a beaten down currency.
Note
Friday's candle looks good to me on a day where the VIX nearly broke out above 15%Trade active
Long EUR GBP:
This is going well so far...moving up in the Oceania Monday session
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