EURGBP - Beck from extremes and headbang at A/R'sFrom the U-MLH, pullback down and up again, to bang the head at the A/R.
And for classic pattern recognition lovers, we also see kind a H&S.
From the U-MLH, we have a great chance that price comes down to the Centerline, as "Timing Is Key" found in the old documentaries from Andrews himself.
P!
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Eg
short EG, take 3 :) long termsee chart for details, but I see a break and retest of a monthly trendline (in red), as well as a weekly trendline (in blue).
also, the resent swing high by EG touches the 0.618 retracement of the prior major move down.
My ultimate target could therefore be at 0.63981, the 1.618 extension level of most recent move.
Short EG at resistanceafter being stopped out on the previous set-up, it seems EG is now hitting some resistance.
on larger timeframes it still is in a downtrend and In combination with the risigin wedge on the 1-2hr chart and it being signifcantly oversold for a period of time, I will go short as soon as the wedge is broken. target retracements of the last major swing up.
comments appreciated.
GL