Hello Traders,
Hope you all are doing good!!
I expect EG to go Up after finishing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve...
EURGBP is trading in ascending Rectangle.
Resistance and Support levels are respected as shown in chart.
Now price is at Resistance level.
RSI showing overbought too.
Full confirmation is there, setup your trade. Going to show some correction.
Tell your opinion in comments!!
When it comes to the technical analysis of EURGBP, you might get an impulse to the downside. Based on my technical analysis , there aren't many supports till the Target 1. So you may use this as a sell opportunity. If the price breaks Target 1, you may keep the position till Target 2. If you are going in, better find a pullback. I have marked a good entry area on...
EXPLANATION : This is a 15 min time frame chart of EURGBP . It has formed Descending triangle pattern , after seeing this formation I take it early entry and Sl kissed me . Price moves in opposite direction of my Analysis , Now what can I do ?? Respect your SL , No revenge trading , No over trading , Find another opportunity , No gambling . This all things keep in...
1. Based on historical price movement the new price action is forming just same pattern it made few weeks ago. So same following pattern can be seen this time!
2. Also double bottom was spotted on weekly chart.
3. Supply Demand / Flag formation / Wedge formation.
4. Stay tuned for sniper entry.
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ALL THE BEST!
Condition:-
1. Daily Channel Formation
2. W formation
3. COT data - 1. EUR ⬆️ 2. GBP ↕️
4. Bullish Momentum
Entry/SL/TP:-
1. Enter the market when price drops back to the entry level
2. Enter on 4hr for better entry
What a awesome trendline breakout and price made new HH structure now price retraced to a major level SNR demand .... Wait for price to make trend reversal pattern and take the entry and SL will be 5-10 pips below demand area....
After a whole 1 year from march 2020 to april 2021 , the currency pair EURGBP has shown a corrective structure of three waves , Wave- a , wave-b as a triangular wave, and wave- c of impulse decline. The weekly price action suggests that there is quite bullish reversal chances from the recent bottoms. The evidence can be considered with the help of Bullish...
