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L ets use this beautiful correction as a Counter Trend Method..
Used Fractal Flow with Andrew's Pitchfork & Schiff Pitchfork Method.
Trade With Caution
Everybody knows that head and shoulder is formed and waiting for the short entry. Here the time is:
Enter SHORT around 0.8965
Stoploss : Above Right Shoulder around 0.9014
Targets : 0.8920/0.8870/0.8700
Also do trendline as a trailing stoploss for capturing the entire downtrend.
NOTE : This is my suggestion and do your own analysis. There is a chance for...
There's a strong resistance here(weekly). So, we can take a nice short here for the target shown in the chart!!! Prices also showing good pullback downside so, it may be a good trade for us !!!
Also, last week prices take good upside route and a recovery to downside is strongly expected from here...
That's all for now...
Follow for more!!! :)
On Friday, EURGBP hovered around 0.89400 levels which holds a good support according to both Bollinger Bands and trend channel formed in 4 hr chart.
So, we can long this pair for approx. 0.90100 levels as take profit. It has high chances that price will test that range this coming week or maybe higher as we see from a Daily perspective.
So, we are bullish on...
The pair ended a cycle in wave (1) at .8276 where the 4 is turning up. While above the .8421 lows where the hourly right side is up it can see a bounce correct the cycle from the .9331 highs from 8/12/2019 where the daily is turning down.
