Andre_Cardoso

(4h) Reached the 2618 targets @ Confluence & Overbought

Short
Andre_Cardoso Updated   
FX:EURGBP   Euro / British Pound
EURGBP

1.Double bottom;
2.Broken neck;
3.Found resistance;
4.Pullback into the 618 fib; (the 2618 trade setup completed)
5.A rally above the 141 ext;

First target for the 2618 at 127% extension or an ab=cd pattern projection;
Second target above, at 161%, and there, we have confluence between fibs, retracement, and extensions, and the price is already testing the previous structure (blue box at left, previous highs);

One advanced pattern to be forged at a reversal point (the 78%) is what i am expecting, to then engage the trade, with the same targets as always, the 38 and the 618 fib retracements.


Safe Trades;
Trade active:
Comment:
Comment:
Adjusted fibs, STOPS and targets based on most recent price action and structure...

Comment:
Stops adjusted into a 1:1 r/r at "NEW" 1st target level
Comment:
and the so welcome candle chart :)

Trade closed: stop reached

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.