EURGBP SHORT FORECAST Q2 D9 W15 Y25EURGBP SHORT FORECAST Q2 D9 W15 Y25
Welcome back Traders! Here's my take.
We have two points of interest here. As always you know how we look into every play. It is imperative we have a turn around of price action prior getting involved even more so when the point of interest is not an order block.
My reasoning behind selection of the weekly/daily highs is simply due to how it aligns with market structure. IF we break the most recent Asia lows from that point of interest followed by a pull back into an order block that would have been created and left behind as a result. The short position will be entertained.
With the above said, in reflection I am already having second thoughts but feel free ti dive into the way I chart and analysis. Would I risk capital from simply a high? It does not seem "smart".
The above is scrapped and we must wait for price action to enter into the daily order block. Let us await a reaction from the area and again, show signs of a turn around. Await for 1'/5' break of structure and lower time frame order block creation.
THEN! We arm our capital and take the short position for what I can foresee will be a worthwhile risk to reward.
Trade well!
FRGNT X
