EURGBP Exhaustion Gap?
Updated
EURGBP gaped up on the open after a high volume spike on Friday.
Expect the liquidity gap to close then a retest of the highs some consolidation and then a break down
I am waiting for a break of the Tenkan acting as a trendline and TDI to cross down to take the short on the 4h
Expect the liquidity gap to close then a retest of the highs some consolidation and then a break down
I am waiting for a break of the Tenkan acting as a trendline and TDI to cross down to take the short on the 4h
Trade active
Taken short trade expect the liquidity gap to closeTwo positions 0.25% risk each.
Close one on Kumo and letting the other ride down to bottom of channel
Note
Sorry wrong imageTrade closed: target reached
Liquidity gap closed dramatically, picking up both TP targets. Will re enter short on consolidation just below liquidity gap. As the trend back has been confirmed we can now raise the percentage risk
Trade active
Re-entered short on break of kumo on 1h
Entry 0.78102
SL 0.78367
TP1 0.77309
TP2 0.76512
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