EURGBP, 1hr and 4hr timeframe, double bottom pattern
Hello my friends,
Today i found some good setup in EURGBP pair. It looks like they're forming a double bottom pattern.
Price currently holding ground just below the resistance i marked. It also looks like price making a flag pattern exactly at this resistance.
Usually when there is 2 bullish pattern forming on resistance, it is more likely for price to break through it easily.
For this setup, it is safer to buy when price break above the marked zone. We could use a buy stop order if we don't have the time to watch the pair.
Buy stop EURGBP 0.9055
Stop loss 0.9020
Take profit 1 @0.9090
Take profit 2 @0.9130
RR Ratio 1:2
Use proper risk management
Good Luck
Today i found some good setup in EURGBP pair. It looks like they're forming a double bottom pattern.
Price currently holding ground just below the resistance i marked. It also looks like price making a flag pattern exactly at this resistance.
Usually when there is 2 bullish pattern forming on resistance, it is more likely for price to break through it easily.
For this setup, it is safer to buy when price break above the marked zone. We could use a buy stop order if we don't have the time to watch the pair.
Buy stop EURGBP 0.9055
Stop loss 0.9020
Take profit 1 @0.9090
Take profit 2 @0.9130
RR Ratio 1:2
Use proper risk management
Good Luck
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.
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.