Euro / British PoundShort
EUR/GBP potential short
Context:
• Market broke through monthly lows and stayed below
• Built a weekly FVG down
• On the daily, market builds a creeping trend into the weekly FVG
• The weekly FVG is supported by lower timeframe FVGs on the daily and 4h chart
Idea:
• Look for shorts in the area 0.8465 to 0.85 (i.e. lower bound of weekly FVG up to las broken low)
• Preferred entry timeframe: 4h
Caution / Scenario invalidated:
• Caution if market closes above 0.8484
• If market goes into 0.85, a sharp reversal should occur
• If the market accepts higher prices and builds up a bullish dynamic, returning into its previous range, I skip this one
Target:
• Low around 0.84
Stop:
• Above your entry signal
• Last resort: 0.8541
Watch for your CRV
Please feel free to comment!
• Market broke through monthly lows and stayed below
• Built a weekly FVG down
• On the daily, market builds a creeping trend into the weekly FVG
• The weekly FVG is supported by lower timeframe FVGs on the daily and 4h chart
Idea:
• Look for shorts in the area 0.8465 to 0.85 (i.e. lower bound of weekly FVG up to las broken low)
• Preferred entry timeframe: 4h
Caution / Scenario invalidated:
• Caution if market closes above 0.8484
• If market goes into 0.85, a sharp reversal should occur
• If the market accepts higher prices and builds up a bullish dynamic, returning into its previous range, I skip this one
Target:
• Low around 0.84
Stop:
• Above your entry signal
• Last resort: 0.8541
Watch for your CRV
Please feel free to comment!
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