EURGBP LONG SETUP
Updated
So after a long downtrend on the 4 hour we can see that the trend has been broken and the price is retracing to the previous high, also the zone where the market has been broken. The perfect entry will be around 0.90000, and we are expecting a lot of confluence which will consist of EMA-200 support, RSI hitting the low level and the bottom of bollinger bands, previous high support and trend break, and also bottom of an uptrend that is forming. The entry should be after the retest was made on the 4hour, and should be taken on the first retracement of the 15 minute retracement break to the upside. So after the retracement has completed, we will wait for the market to break to the upside on the 15 minute, wait for a retrace, then enter. TP 1- 0.90250, TP2 -0.90450, TP3-0.90700 or the -0.27 level of the fib if you want to keep it to breakeven. SL-0.89620, Or a tight one will be some pips under the retrace was made.
Trade active
Entered the trade, SL-0.89450, TP1-0.90479, TP2-90670, TP3-91250Trade active
0.38 FIBS HIT..we can secure one position and place the SL of the others above the entry!Trade active
TP1 HITTTTrade closed: target reached
tp1 hit, tp2 hit, tp3 almost hit! awesome trade!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.