We can observe that a wedge was formed , broken up and then retested but price rejected it (as well as the .786 fib lvl)
also GBPUSD keep forming higher lows and higher highs
while EURUSD is in a downtrend
also sterling have retested is ATH while euro
keep stuck at bottom
this latence between the two correlated pairs may confirm that euros will probably form a new wave going up
therefore we can enter long right now and aim for 1:2 and higher OR finding a better setup within lower TF. enjoying the next ride to 1.23
SL below the doji in both cases
also GBPUSD keep forming higher lows and higher highs
while EURUSD is in a downtrend
also sterling have retested is ATH while euro
keep stuck at bottom
this latence between the two correlated pairs may confirm that euros will probably form a new wave going up
therefore we can enter long right now and aim for 1:2 and higher OR finding a better setup within lower TF. enjoying the next ride to 1.23
SL below the doji in both cases
Note
V shape validating the higher TF setupNote
took half profit at this resistanceletting the rest run
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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.
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.