First long positions at EUR/GBP
Updated
Following my analysis from Sunday (linked to this one) i am opening first positions in EUR/GBP.
Reason for this is a low which is hitting structure and at the same time triggering the fib 61.8 of last upswing.
I know that it is a falling knife, but I entered on lower time frame M5 with a tight SL at 0.7144.
If downtrend will continue a small loss will be realized and I will re-enter only if a clear uptrend is visible on lower timeframe.
Important: :-)
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading
Reason for this is a low which is hitting structure and at the same time triggering the fib 61.8 of last upswing.
I know that it is a falling knife, but I entered on lower time frame M5 with a tight SL at 0.7144.
If downtrend will continue a small loss will be realized and I will re-enter only if a clear uptrend is visible on lower timeframe.
Important: :-)
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
Please remind yourself that this is just my personal view on the market and you always should do your own analysis before trading
Note
While waiting for a reversal on H1 I would like to show a possible Long set up.Falling Wedge pattern. Interesting to see is also that today´s candle might close with a daily doji candle. Let´s collect further probabilities to find the right long set up.
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