Perhaps there's a macro theme to play in the Brexit being a furphy... Indeed, there's compelling risk-reward on shorter-term timeframes with a stop at the recent high and a target towards the middle of the distribution. So even if one assigns a 20% probability to the trade, the E(V) might still be attractive.
PAIR: EUR/GBP
TTF: 4HR
TRADE: Counter Trend
NOTE: These are potential Trade opportunities based
on my own personal Analysis. Please respect my Trade
ideas with kindness. Thank you,
Star Prosper
Philip Stewart
On FX:EURGBP , the market broke out the support level at 0.84424 which became the resistance. Also, last swing made a new structure which can be the sign of new downtrend and an opportunity to go short. Moreover, the fibbo level 38.2% exactly hits the same resistance zone and the last bars long shadows shows that bulls are getting their control.
PS. Draghi speaks...
EUR/GBP broke out of an ascending Trendline and tested this line again (Confirmation). Now this Pair broke out of another Trendline so you can enter your short Position now.
Trade safe, Daniel
Likes and Comments would keep me motivated to post more Setups
EUR/GBP short. Overall we are in bullish trend on daily chart but looks like forming pullback to MA200,MA50. Just broke support trend line on 1H , forming resistance line , support level 0.8491 turn into resistance. Take profit on next resistance level. Risk reward 2.2:1. 70% success rate.
A little bit late to the party as price has already pushed up passed my desired entry. However for me to still consider this a trade to take, price would have to retrace back down slightly to a more favoured entry to benefit my risk to reward ratio. In addition, if I were to enter toady it would likely be on one of the lower time frames, but if I were to enter on...
EUR/GBP price made a bearish move to the mental post-brexit barrier and strong 1D support level.
We are currently following a comfortable Elliott-Wave pattern hitting A.B,C,D waiting on E
Daily Bearish hammer formed at 1D support level (0.833) which is a strong indication of a reversal.
Heiken Ashi candlesticks should turn Blue (Bullish) tomorrow if price...
EUR/GBP has broken below the 0.85 handle, intraday bias lower.
Daily charts show a bearish 7-DMA crossover on 21-DMA.
Techs indicate further downside, Stochs and RSI point south.
Good to short rallies, SL: 0.8535, TP: 0.8460
0.8460 is major trendline support. Violation there could see 0.8445 (50-DMA).
Break below 50-DMA could see drag till 0.8350 levels.
EUR/GBP broke out of an ascending Channel and formed a MACD Divergence. Now i wait for a correction and enter my short position after a breakout out of the corrective structure. TP's are shown in the Chart
Always follow your Plan, Daniel
Likes and Comments would keep me motivated.
