EURGBP LONG/BUYEURGBP has recently bounced from a major support level on the 4-hour timeframe, with the RSI indicator confirming oversold conditions. Additionally, COT data indicates a significant number of financial institutions holding short positions on the GBP. All signs point to a potential bullish trend for the EURO.
📉 Expectations:
We anticipate the pair to re-test key support levels as highlighted in the attached chart.
📊 Trading Strategy:
This trade is based on a combination of technical analysis and candlestick patterns, representing a long-term position. Ensure you have sufficient margin to manage market fluctuations and implement proper risk management aligned with your account size.
🚦 Trading Rules:
1️⃣ Rule 1: Only enter the trade if it surpasses our entry-level (GREEN LINE ON THE CHART).
2️⃣ Rule 2: Upon reaching Target 1, consider closing some positions or adjusting your STOP LOSS to ENTRY price for safer trading.
3️⃣ Rule 3: After achieving Target 1, refrain from initiating new trades based on the same signal/alert.
4️⃣ Rule 4: If the market consolidates for over 2 days, close the trade and patiently await the next favorable trading opportunity.
Feel free to reach out if you have any questions or need further clarification. Happy trading! 📈✨
