Eur/Gbp Long Idea

May 4, 2021

My reason behind entering this pair is due to the fact that at the moment we are climbing up in a bullish trend on the daily timeframe, which gives me the indication that longs will only be valid in any trade situation. Once I scoped into current price action on the daily i spotted a shooting star, which in my opinion would be perfect for an entry at the wick high. 4hr looked even better for me, showing previous support now acting as new resistance clearly highlighted on my chart with the box . For my confluence i noticed we left a slight imbalance close to my entry, along with a daily TF Ema just above the entry. On the 4h for my Stoplioss, it placed just below a Hl, as a break past this level would cause the trade to be no longer valid, but the ATR gives me further confluence it won't over entered to that. Take profit just at the zone of resistance.