Waiting for reject on 4h psihological and support level before taking long position !!
Still within range, but looks like a pullback is eminent..
eurgbp appears to have made a 0.618 pullback on 4h chart and becayse of this we can look to long.
Hello my friends! ^^ Long EUR-GBP Min RR ~ 1:4 Target 1: 1.618 ~ 2.0 of Fib Target 2: 2.618 of Fib
EURGBP looking to take a long when we break and close above downtrend channel. The idea is invalid if we fail to do so. This would likely go in hand with price divergences in other euro and pound pairs (ie EU strong GU weak, EJ strong GJ weak etc.)
On H4 chart, EG has breakout triangle pattern and next TP is around 0.6. The price is currently testing Resistance 0.535 with Support 0.485. A better entry would be at 0.545 after price breakout the resistance zone with TP 0.6, and 0.625 (RRR 1:1.3) EP 0.545 TP 0.6 / 0.625 SL 0.485 (RRR 1:1.3) MACD is crossing on H4 chart, signaling a breakout with RSI @ 65 to...
WE look to have broken bullish out of a descending wedge, on top of this we have the rvi bullish cross on daily chart, as this classes as consolidation look for bullish breakout.
My opinion of EG, i think is going low the support, then going up !
Any input @ feedback for me to improves in drawing the chart and writing down my trading plan is really appreciated. Btw, be nice please.. Thank you and have a great trading