EURGBP - 2 POSSIBLE SCENARIOS AND 2 APPROACHES
Updated
- Aggressive Approach = I could sell right now after the Daily Doji at the top of the Wedge and ride the price down to the bottom of the Wedge, and then Buy and ride the price back up
-Conservative Approach = Wait till price reaches the bottom of the Wedge at (4) and the Buy.
-Scenario 1 = Price could break out from the Wedge to the Upside (since it's retesting the upper level of the Wedge for the 3rd time) , and in the case that that happens the setup is invalidated
-Scenario 2 = When price reaches point. 4 it could break out to the Downside (since it's retesting the bottom level of the Wedge for the 3rd time) and in that case the setup is again invalidated
Therefore watch for price action real close on this one and always trade safe and do your due diligence before entering a trade.
-Conservative Approach = Wait till price reaches the bottom of the Wedge at (4) and the Buy.
-Scenario 1 = Price could break out from the Wedge to the Upside (since it's retesting the upper level of the Wedge for the 3rd time) , and in the case that that happens the setup is invalidated
-Scenario 2 = When price reaches point. 4 it could break out to the Downside (since it's retesting the bottom level of the Wedge for the 3rd time) and in that case the setup is again invalidated
Therefore watch for price action real close on this one and always trade safe and do your due diligence before entering a trade.
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