EURGBP POTENTIAL LONG
Bearish AB=CD Pattern completed
Bearish AB=CD potential [starting at point C]
Could carry on pattern
Price as recently rebounded of the .618 fib level which is also a resistance turned support
Entry order between rices 0.758 & 0.761
Price could break through .618 structure
Trend channel could be tested between 0.757 & 0.762
Look to go long if above is met
Bearish AB=CD potential [starting at point C]
Could carry on pattern
Price as recently rebounded of the .618 fib level which is also a resistance turned support
Entry order between rices 0.758 & 0.761
Price could break through .618 structure
Trend channel could be tested between 0.757 & 0.762
Look to go long if above is met
Note
*CORRECTION*Price has rebounded of main structures within AB=CD pattern
Confluence with fib ratios and trend line caused price to push upward and resume uptrend momentum
Early Entry at 0.7611
Stop loss at 0.7568
Target 1 at 0.7669
Initial R:R at 2.26
Target 2 at 0.7705
Target 3 at 0.7746
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.