EURGBP - Daily Long, H4 short. Panic?
Good morning Guys :-)
Today we analyzed the pair EURGBP, in a very precise way, in fact the pair gave us many ideas. In fact, we started from a daily graph, which is in a very strong uptrend, since it is straight and doesn't have many zig-zags.
To the questione "Long or Short?", the answer was 100% "Long", both straight away, or wanting for a correction, but long anyway.
Since the daily chart have a really straight trend, I said "let's go down on H4", and here an illumination!
As you can see on the graph, H4 says, even though the daily TF is bearish, that maybe the strength is kinda vanish, since a support, which worked many times, didn't this one, so that price could go down.
I immediate saw the Head and Shoulders formation (I don't really care about the neckline, I care the most about the inversion that this could show us).
So I thought "Well, a bullish trend, but supports are broken this easily? I don't like it".
In fact, H4 is inverting. If we go down on H1, we can see that it already did it (inversion, I mean).
What about now? Now this bearish trend on H1 is asking permission to the H4 to go on. And H4, we are with you! In fact, if the highlighted zone (where you can see the entry point) keeps price down*, I take advantage to go short, first of all up to the neckline, and then, up to the next obstacle on the daily chart (next one will be October highs).
If this obstacle will stop the bearish move, so the daily chart will say "no" to the bearish move, and we will close the position, if not, we will go down with the Daily chart, having taken advantage of a bearish move that wasn't even started on the daily chart. Cool, isn't it?
*"How can I know if H4 keeps prices down?" you're asking yourself, aren't you? Well, I can see it through minor timeframe, such as H1 or 15 minutes, waiting for a double top.
Let me know what you think about it buy commenting and liking this idea.
Also, prices could normally continue the daily bullish move! Mine is just an idea, a project, to which I stay faithful up to a new breakout appears, not because I just believe in my ideas, but because it's really important to stay consistent and following our plans to succeed in trading!
Today we analyzed the pair EURGBP, in a very precise way, in fact the pair gave us many ideas. In fact, we started from a daily graph, which is in a very strong uptrend, since it is straight and doesn't have many zig-zags.
To the questione "Long or Short?", the answer was 100% "Long", both straight away, or wanting for a correction, but long anyway.
Since the daily chart have a really straight trend, I said "let's go down on H4", and here an illumination!
As you can see on the graph, H4 says, even though the daily TF is bearish, that maybe the strength is kinda vanish, since a support, which worked many times, didn't this one, so that price could go down.
I immediate saw the Head and Shoulders formation (I don't really care about the neckline, I care the most about the inversion that this could show us).
So I thought "Well, a bullish trend, but supports are broken this easily? I don't like it".
In fact, H4 is inverting. If we go down on H1, we can see that it already did it (inversion, I mean).
What about now? Now this bearish trend on H1 is asking permission to the H4 to go on. And H4, we are with you! In fact, if the highlighted zone (where you can see the entry point) keeps price down*, I take advantage to go short, first of all up to the neckline, and then, up to the next obstacle on the daily chart (next one will be October highs).
If this obstacle will stop the bearish move, so the daily chart will say "no" to the bearish move, and we will close the position, if not, we will go down with the Daily chart, having taken advantage of a bearish move that wasn't even started on the daily chart. Cool, isn't it?
*"How can I know if H4 keeps prices down?" you're asking yourself, aren't you? Well, I can see it through minor timeframe, such as H1 or 15 minutes, waiting for a double top.
Let me know what you think about it buy commenting and liking this idea.
Also, prices could normally continue the daily bullish move! Mine is just an idea, a project, to which I stay faithful up to a new breakout appears, not because I just believe in my ideas, but because it's really important to stay consistent and following our plans to succeed in trading!
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