EURGBP Sell Idea
Updated
D1 - Bearish convergence, currently it looks like a pullback is happening.
H4 - Pullback that we were looking for is happening in the form of double wave, price has reached the 100% fibonacci expansion level (sell zone), bearish hidden divergence.
Alternative scenario - Another wave up before continuation lower.
H1 - If we get a valid breakout below the uptrend line we may then look for pullbacks and sells with bearish evidences (evidences could be in the form of candle stick patterns, false breaks, trend line breakouts etc… supporting the bearish view).
Invalidation – If the price breaks and holds above the 0.85 level then this sell setup will be invalidated.
H4 - Pullback that we were looking for is happening in the form of double wave, price has reached the 100% fibonacci expansion level (sell zone), bearish hidden divergence.
Alternative scenario - Another wave up before continuation lower.
H1 - If we get a valid breakout below the uptrend line we may then look for pullbacks and sells with bearish evidences (evidences could be in the form of candle stick patterns, false breaks, trend line breakouts etc… supporting the bearish view).
Invalidation – If the price breaks and holds above the 0.85 level then this sell setup will be invalidated.
Note
This sell setup is moving exactly as per our plan and has provided us excellent profits so far.
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.