EURGBP Multi-timeframe analysis
Updated
Daily - Since 24th of November market rejected the 0.88610 zone and moving from HL to forming a possible HH.
Our target is to catch a buy in this move.
4H-Break the downtrend structure and now we are at the 0.89958 key zone with market forming a second HL. We already have a bullish engulfing as a confirmation and with more bullish elements we could get our Buy setup on Lower Time Frames (LTF).
Using 1H for confirmation and 30m for our entry, since both are on a downtrend forming a LH, will wait probably another 3 to 6 hours until market find a new HH and HL, otherwise the Scenario 2 (S2) will be our future setup.
Will keep you updated.
Please follow us for future analysis and ideas.
Sam
Our target is to catch a buy in this move.
4H-Break the downtrend structure and now we are at the 0.89958 key zone with market forming a second HL. We already have a bullish engulfing as a confirmation and with more bullish elements we could get our Buy setup on Lower Time Frames (LTF).
Using 1H for confirmation and 30m for our entry, since both are on a downtrend forming a LH, will wait probably another 3 to 6 hours until market find a new HH and HL, otherwise the Scenario 2 (S2) will be our future setup.
Will keep you updated.
Please follow us for future analysis and ideas.
Sam
Note
Market is playing out based on our S1. Take in note that 1H is still on a downtrend and is forming LH now, so any rejection at the current price is expected.
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