EURGBP - Potential Retracement, then Short
Updated
On EURGBP we just broke the lowest low in a downtrend, creating Sow (sign of weakness). We I believe we will retrace back up soon, leaving buyers and sellers in a trapped market. Price could use the liquidity taken to take price higher, Hoping for a mitigation to at the bearish Breaker. The breaker lines up with Equilibrium / Premium of the PDA Matrix. Could see shorts from here. I'll only take the the trade if we retrace up to the breaker and if the market still looks good if we reach there.
Note
4.november:FOMC kicked in and just hit the Breaker but it came in very impulsively. I'm waiting for some reduction in price to see some signs of weakness. If we do get that, I expect price to move down from this Breaker. If not it'll go straight through due to the volatility
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Went straight through the breaker due to FOMC News even which sucks. Never saw any signs of weakness (any bearish candles inside the breaker) and therefore I did not take any trades luckily. Don't trade during news, kids. :)Note
Its melting after I deleted my Sell limit so I'm not in this sell :(Well, price is at least doing everything as expected and testing the breaker beautifully. If you capitalized, congrats!
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