Long

Potentail reversal for 🇪🇺/🇬🇧 EUR/GBP?

Updated

The price is now located on an important S/R area on a graph at 1W, you can see how the price reacted to its crossing (highlighted in yellow).

Potentially the price could show a new reversal movement as happened in the past.
Obviously it is a timeframe too high for an input for which it is necessary to scale the timeframe.

Representation of a personal idea, is therefore not to be considered neither an investment suggestion nor a financial advice.

Note

At 1D you can see how this level, in which the rectangle is inserted is a "catapult" for the price.

Note

At 4H you can start to see something interesting for an entrance, you clearly see that the price on 24 Jan 2022 broke the zone of consolidation, creating a new HH, failing in the retest on the zone S/R, bringing the price to the original level of interest.

Note

To 1H it can be seen as the price after to have created the HH is returned to the zone of interest, doing this but it has formed a descending trendline that always is returned until the price has reached the inferior rectangle.
Once the price happened it broke the trendline and created a retest that corresponds also to a "Double bottom" pattern.

Note

Personally I have found an area for the income after the break of the new minor trendline, formed with the formation of the retest of the greater trendline.
To 15m the price has broken the trendline with an impulsive movement, returning then to retest the minor trendline, in correspondence also of an interesting zone of the retracement of Fibonacci, set on the movement that has carried to the break of the trendline.

Note

Price is approaching at the upper zone of the consolidation.

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The pice move to the upside as forecast, anyway the price is now correcting into a nice zone for a potential long continuation.

ElectiFX

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